Response to the following questions:
1. How does a corporation report the Treasury Stock account under the cost method of accounting for treasury stock? Under the par value method?
2. What accounting procedures are involved under the cost method when a corporation retires treasury stock?
3. If a French company using IFRS revalued its property, plant, and equipment upwards due to an increase in its fair value, where would the revaluation appear in its financial statements. How would the company account for a subsequent downward revaluation?