Blue Moon Water Supply Inc bottles and distributes spring water On July 17 of the current year, Blue Moon Water Supply reacquired 35,000 shares of its common stock at $60 per share a What is the balance of Treasury Stock on December 31 of the current year b Where will the balance of Treasury Stock ...

a 2100000 35000 shares 60 b The balance of Treasury Stock is reported as ...

Blue Moon Water Supply Inc. bottles and distributes spring water. On July 17 of the current year,

Question:

Blue Moon Water Supply Inc. bottles and distributes spring water. On July 17 of the current year, Blue Moon Water Supply reacquired 35,000 shares of its at $60 per share.
a. What is the balance of Treasury Stock on December 31 of the current year?
b. Where will the balance of Treasury Stock be reported on the balance sheet?
c. For what reasons might Blue Moon Water Supply have purchased the treasury stock?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...