5.

Entries for Treasury Stock

On May 27, Buzz Off Inc. reacquired 77,000 shares of its common stock at $10 per share. On August 3, Buzz Off sold 53,000 of the reacquired shares at $13 per share. On November 14, Buzz Off sold the remaining shares at $8 per share.

Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank.

May 27	CashCommon StockPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of ParTreasury Stock	- Select -	- Select -
	CashCommon StockPaid-In Capital from Sale of Treasury StockPaid-In Capital in Excess of ParTreasury Stock	- Select -	- Select -
Aug. 3	Accounts ReceivableCashCommon StockRetained EarningsTreasury Stock	- Select -	- Select -
	Common StockPreferred StockRetained EarningsStock DividendsTreasury Stock	- Select -	- Select -
	Common StockPaid-In Capital from Sale of Treasury StockPreferred StockRetained EarningsStock Dividends	- Select -	- Select -
Nov. 14	Accounts ReceivableCash DividendsCashCommon StockTreasury Stock	- Select -	- Select -
	Common StockPaid-In Capital from Sale of Treasury StockRetained EarningsSalesTreasury Stock	- Select -	- Select -
	Common StockPreferred StockSalesStock Dividends DistributableTreasury Stock	- Select -	- Select -

Reporting Stockholders' Equity

Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. 80,000 shares of common stock authorized, and 4,000 shares have been reacquired.

Common Stock, $80 par	$5,120,000
Paid-In Capital from Sale of Treasury Stock	102,000
Paid-In Capital in Excess of ParCommon Stock	1,408,000
Retained Earnings	2,406,000
Treasury Stock	62,000

Balance Sheet

Stockholders' Equity
Paid-in capital:
CashCommon Stock, $80 Par (80,000 Shares Authorized, 64,000 Shares Issued)Retained EarningsTreasury StockCommon Stock, $80 Par (80,000 Shares Authorized, 64,000 Shares Issued)	$Common Stock, $80 Par (80,000 Shares Authorized, 64,000 Shares Issued)
CashExcess of Issue Price Over ParRetained EarningsTreasury StockExcess of Issue Price Over Par	Excess of Issue Price Over Par
Paid-in capital, common stock		$fill in the blank 5
CashFrom Sale of Treasury StockRetained EarningsTreasury StockFrom Sale of Treasury Stock		From Sale of Treasury Stock
Total paid-in capital		$fill in the blank 8
Common Stock, $80 ParExcess of Issue Price Over ParRetained EarningsTreasury StockRetained Earnings		Retained Earnings
Total		$fill in the blank 11
Common Stock, $80 ParExcess of Issue Price Over ParRetained EarningsTreasury StockTreasury Stock		Treasury Stock
Total stockholders' equity