Treasury stock should be shown on the balance sheet

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Reference no: EM131267747

1. Treasury stock should be shown on the balance sheet as a(n) _______________.

reduction of the corporation's stockholders' equity

current asset

current liability

investment asset

2. Malloy Company issued its own $10,000, 90-day, non-interest-bearing note to a bank. The only payment Malloy will ever make to the bank will be for $10,000 at the maturity date of the loan as the bank discounts the note at 10 percent. The proceeds to Malloy are _______________.

$10,000

$9,000

$9,750

$10,250

None of the above

Reference no: EM131267747

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