One to two full in pages in length: single spaced; 12 pt. font. One Inch margins. Any small charts created will count for page space. Goal: Tel the story of Northrop Grumman.
Review financial statements as whole. Use the Notes to the Financial Statements to learn more about Northrop Grumman. What items are displayed in Other Comprehensive Income?
Does Northrop Grumman own treasury stock in the owners’ equity section? Is this value increasing or decreasing?Consider the journal entry approach to the purchase of treasury stock.Treasury stock is displayed on the balance sheet as a negative value in owners’ equity. This is because its normal balance is a debit but owners’ equity normal balances are credits. The Journal Entry to purchase Treasury Stock is only about the cost to acquire (ignores the par value):
Credit Treasury Stock
Why would a company purchase Treasury Stock?Review the 1004 page pdf book for Treasury Stock. The 1004 page book is a very good searchable pdf file.This is an easy answer where you enumerate the reasons. Provide two references.