Chapter 5 1. The amount of time that is expected to elapse until an asset is realized or otherwise converted into cash is referred to as 2. Treasury stock should be reported as a(n) a. current asset. b. investment. c. other asset. d. reduction of stockholders' equity. Explain in one or two sentences why your answer (for #2 above) is correct? 3. Which of the following should be reported for capital stock? a. The shares authorized b. The shares issued c. The shares outstanding d. All of these answer choices are correct. Explain in one or two sentences why your answer (for #3 above) is correct? 4. Houghton Company has the following items: common stock, $1,500,000; treasury stock, $210,000; deferred income taxes, $250,000 and retained earnings, $780,000. What total amount should Houghton Company report as stockholders' equity? a. $1,390,000 b. $2,170,000 C. $2,420,000. d. $2,070,000 Show how you calculated your answer (for #6 above)