Project 3 (Company is FOOTLOCKER)

Project Three

Business Report

One to two full in pages in length: single spaced; 12 pt. font. One Inch margins. In your own words.
If you create any small charts they will count for page space. Goal: tell the story of your company in the parameters described below.

Each of the five projects requires you to map out your message, for your supervisor, illustrating your mastery of concepts from our course as they relate to your SEC 10-K Company. Consider this as your employer. As a starting point, for project three:

Review financial statements as whole. Use the Notes to the Financial Statements to learn more about your company. What items are displayed in Other Comprehensive Income?

Does your company 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):

Debit Cash

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.