Chubb Limited reports the following share repurchase activity for the last quarter of 2023: ...
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Accounting
Chubb Limited reports the following share repurchase activity for the last quarter of 2023:
Assume Chubb resells 100,000 shares of treasury stock on December 31 for $150/share. These shares relate to the shares repurchased in October. Describe how this resale transaction will affect the Balance Sheet, the Income Statement, and the Statement of Cash Flow produced on December 31, 2023. Assume the company uses FIFO for treasury stock.
Describe the Balance Sheet effect ?
Describe the Income Statement effect ?
Describe the Statement of Cash Flow effect ?
\begin{tabular}{|c|c|c|} \hline Month & \begin{tabular}{l} Total Number of \\ Shares Purchased \end{tabular} & \begin{tabular}{l} Average Price \\ Paid per Share \end{tabular} \\ \hline Octo & 703,200 & $153.65 \\ \hline November & 677,600 & $151.41 \\ \hline December & 654,400 & $153.84 \\ \hline \end{tabular}
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