Treasury Stock Transactions

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 10,800 shares of its common stock at $26 per share. On June 14, 6,800 of the reacquired shares were sold at $28 per share, and on November 23, 2,600 of the reacquired shares were sold at $29.

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 77811bf71fa6039_2
			fill in the blank 77811bf71fa6039_4
June. 14		fill in the blank 77811bf71fa6039_6	fill in the blank 77811bf71fa6039_7
		fill in the blank 77811bf71fa6039_9	fill in the blank 77811bf71fa6039_10
		fill in the blank 77811bf71fa6039_12	fill in the blank 77811bf71fa6039_13
Nov. 23		fill in the blank 77811bf71fa6039_15	fill in the blank 77811bf71fa6039_16
		fill in the blank 77811bf71fa6039_18	fill in the blank 77811bf71fa6039_19
		fill in the blank 77811bf71fa6039_21	fill in the blank 77811bf71fa6039_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 cb6fc7fa3056065_1

c. What is the balance in Treasury Stock on December 31 of the current year? $fill in the blank cb6fc7fa3056065_3

d. How will the balance in Treasury Stock be reported on the balance sheet?