How is treasury stock shown on the balance sheet?
a. treasury stock is not shown on the balance sheet
b. an increase in stockholders' equity
c. a decrease in stockholders' equity
d. an asset
c
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On January 1, 2018, McHenry Manufacturing Company purchased a machine for $40,400,000. McHenry's management expects to use the machine for 34,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $50,000. The machine was used for 4600 hours in 2018 and 6000 hours in 2019. Calculate the book value of the machine at the end of 2019 if the company uses the units-of-production method of depreciation. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $27,820,344 B) $40,400,000 C) $27,804,656 D) $34,940,904
Answer the following statements true (T) or false (F)
The first and last steps of successful mental practicing involve closing your eyes.
Fact Pattern 41-2BMega Corporation wants to gain control of MiniCo, Inc. The companies negotiate for several months, without coming to terms. Mega decides to pursue a takeover attempt. MiniCo decides to resist.Refer to Fact Pattern 41-2B. MiniCo issues shares that its shareholders can exchange for cash if a takeover is successful, intending to make Mega's takeover attempt too expensive. This is a
A. crown jewel defense. B. Pac-Man defense. C. poison pill defense. D. white knight defense.
National Drilling Company ships its only pump to American Hydraulics Corporation, the manufacturer, for repair. National hires Overland Transport, Inc, to take the pump to American Hydraulics and to return it to National as soon as the repair is
complete. National is forced to sus-pend operations without a pump, but Overland does not know this. National expects to be without the pump for five days and to lose profits of $5,000. When the pump is not returned by the end of the fifth day, National rents a pump at a cost of $100 per day. Overland delays five more days before returning the pump. National files a suit against Overland, asking for compensatory, consequential, and punitive damages. Will National recover?