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Treasury Stock Transactions Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake reacquired 5,300 shares of its
Treasury Stock Transactions Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake reacquired 5,300 shares of its common stock at $82 per share. On April 30, Lava Lake Inc. sold 3,700 of the reacquired shares at $91 per share. On August 22, Lava Lake Inc. sold 1,600 shares at $79 per share. a. Journalize the transactions of February 11, April 30, and August 22. If an amount box does not require an entry, leave it blank. Feb. 11 Treasury Stock Cash Apr. 30 Cash Treasury Stock 434,600 336,700 Paid-In Capital from Sale of Treasury Stock Aug. 22 Cash 126,400 Paid-In Capital from Sale of Treasury Stock Treasury Stock Feedback Check My Work 434.600 b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit
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