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General Motors recently purchased 10,000 of its shares to be given out as bonuses to key employees. The company paid $45 share for a total
General Motors recently purchased 10,000 of its shares to be given out as bonuses to key employees. The company paid $45 share for a total of $450,000. How will this amount be presented on the company's financial statements? Select one: a. as a liability on the balance sheet b. as an asset on the balance sheet c. as an expense on the income statement d. as a reduction in stockholder's equity on the balance sheet. e. None of the answer choices is correct
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