Instructions: Please, respond to the below two cases and include at least 2 references (citation). This assignment should be about 2 pages total (around 500 words including only the answers.) CASE...

Please, respond to the attached two cases and include at least 2 references (citation). This assignment should be about 2 pages total (around 500 words including only the answers.)

Instructions: Please, respond to the below two cases and include at least 2 references (citation). This assignment should be about 2 pages total (around 500 words including only the answers.) CASE 15-3 Accounting for Treasury Stock For numerous reasons, a corporation may reacquire shares of its own capital stock. When a company purchases treasury stock, it has two options of how to account for the shares: the cost method and the par value method. Required: Compare and contrast the cost method and the par value method for each of the following: a. Purchase of shares at a price less than par value b. Purchase of shares at a price greater than par value c. Subsequent resale of treasury shares at a price less than purchase price but more than par value d. Subsequent resale of treasury shares at a price greater than both purchase price and par value e. Effect on net income CASE 17-5 Interim Reporting The unaudited quarterly statements of income issued by many corporations to their stockholders are usually prepared on the same basis as annual statements—the statement for each quarter reflects the transactions of that quarter. Required: a. Why do problems arise in using such quarterly statements to predict the income for the year? Explain. b. Discuss the ways quarterly income can be affected by the behavior of the costs recorded in an account for repairs and maintenance of factory machinery. c. Do such quarterly statements give management opportunities to manipulate the results of operations for a quarter? If so, explain or give an example.