Question
Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquired
Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquired 19,200 shares of its common stock at $43 per share. On June 14, 12,100 of the reacquired shares were sold at $47 per share, and on November 23, 4,600 of the reacquired shares were sold at $46.
a. Journalize the transactions of January 31, June 14, and November 23. For a compound transaction, if an amount box does not require an entry, leave it blank.
Jan. 31 | fill in the blank d3aa68031032026_2 | ||
fill in the blank d3aa68031032026_4 | |||
June. 14 | fill in the blank d3aa68031032026_6 | fill in the blank d3aa68031032026_7 | |
fill in the blank d3aa68031032026_9 | fill in the blank d3aa68031032026_10 | ||
fill in the blank d3aa68031032026_12 | fill in the blank d3aa68031032026_13 | ||
Nov. 23 | fill in the blank d3aa68031032026_15 | fill in the blank d3aa68031032026_16 | |
fill in the blank d3aa68031032026_18 | fill in the blank d3aa68031032026_19 | ||
fill in the blank d3aa68031032026_21 | fill in the blank d3aa68031032026_22 |
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 66222effdfd8002_1
c. What is the balance in Treasury Stock on December 31 of the current year? $fill in the blank 66222effdfd8002_3
d. How will the balance in Treasury Stock be reported on the balance sheet?
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