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Treasury Stock The Stockholders' Equity category of Zavala Industries' balance sheet on January 1, 2016, appeared as follows: Common stock, $10 par, 10,000 shares issued

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Treasury Stock The Stockholders' Equity category of Zavala Industries' balance sheet on January 1, 2016, appeared as follows: Common stock, $10 par, 10,000 shares issued and outstandina $100.000 Required: 1. Record the entries. The following transactions occurred during 2016: a. Reacquired 1,800 shares of common stock at $20 per share on july 1. Indicate the effect on financial statement items by selecting " " " for decrease (or negative effect), " +, " for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. b. Reacquired 500 shares of common stock at $18 per share on August 1. Indicate the effect on financlal statement items by selecting "- for decrease (or negative effect), "+ "for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. b. Reacquired 500 shares of common stock at $18 per share on August 1. Indicate the effect on financial statement items by selecting "-" for decrease (or negative effect), " + " for increase (or positive effect) and "NE" for No Entry (or no effect) on the financial statement. 2. Assume that the company resold the shares of treasury stock at $28 per share on October 1. The resale price of the treasury stock is $64,400, which when compared to its original cost, yielded in the amount of $. This is shown on the balance sheet as a(n) in the account

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