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On August 1, Nikee purchased 39,000 shares of its common stock @ $163 per share.On September 23, Nikee sold 25,000 of these shares at $167

On August 1, Nikee purchased 39,000 shares of its common stock @ $163 per share.On September 23, Nikee sold 25,000 of these shares at $167 per share.On December 29, Nike sold 3,000 of these shares at $160 per share.

(a) Journalize the transactions of August 1, September 23 and December 29.

(b) How many shares and what is the total dollar amount of Treasury Stock that Nikee has as of December 31?

c) Where is the balance in the Treasury Stock account shown on the Balance Sheet?

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