First, the amount of treasury stock is generally limited by state law to the balance of retained earnings. By purchasing shares from stockholders, the corporation can use them, for example, as part of the compensation to executives without having to go through the legal difficulties of amending the Charter to allow additional shares to be…
Then line 24, “other expenses” is where you would report any expenses that did not fall in any of the pre-listed descriptions. Do not include expenses on line 24 that fit into any of the categories on lines 1 to 23. The only expenses which should appear on line 24 are expenses that clearly do…
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