Homework answers / question archive / Treasury Stock Transactions SprayCo Inc

Treasury Stock Transactions SprayCo Inc

Finance

Share With

---

Treasury Stock Transactions

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 11,400 shares of its common stock at $26 per share. On June 9, 7,200 of the reacquired shares were sold at $28 per share, and on November 13, 2,700 of the reacquired shares were sold at $29.

a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not require an entry, leave it blank.

Mar. 9 

 

fill in the blank b679d4069fdf056_2

fill in the blank b679d4069fdf056_3

 

 

fill in the blank b679d4069fdf056_5

fill in the blank b679d4069fdf056_6

June 9 

 

fill in the blank b679d4069fdf056_8

fill in the blank b679d4069fdf056_9

 

 

fill in the blank b679d4069fdf056_11

fill in the blank b679d4069fdf056_12

 

 

fill in the blank b679d4069fdf056_14

fill in the blank b679d4069fdf056_15

Nov. 13 

 

fill in the blank b679d4069fdf056_17

fill in the blank b679d4069fdf056_18

 

 

fill in the blank b679d4069fdf056_20

fill in the blank b679d4069fdf056_21

 

 

fill in the blank b679d4069fdf056_23

fill in the blank b679d4069fdf056_24

b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?

$fill in the blank 71af6cf83008009_1

 

  

 

c. What is the balance in Treasury Stock on December 31 of the current year?

$fill in the blank 71af6cf83008009_3

 

  

 

d. How will the balance in Treasury Stock be reported on the balance sheet?