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Treasury stock transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 1 4 of the current year, Biscayne Bay Water reacquired 2
Treasury stock transactions
Biscayne Bay Water Inc. bottles and distributes spring water. On May of the current year, Biscayne Bay Water reacquired shares of its common stock at $ per share. On September Biscayne Bay Water sold of the reacquired shares at $ per share. The remaining shares were sold at $ per share on November
a Journalize the transactions of May September and November If an amount box does not require an entry, leave it blank.
b What is the balance in PaidIn Capital from Sale of Treasury Stock on December of the current year?
$
c Where will the balance in PaidIn Capital from Sale of Treasury Stock be reported on the balance sheet?
d For what reasons might Biscayne Bay Water Inc, have purchased the treasury stock?
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