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 $40 per share. On June 14, 6,800 of the reacquired shares were sold at $44 per share, and on November 23, 2,600 of the reacquired shares were sold at $46.

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 ebaf4602afe002c_2
			fill in the blank ebaf4602afe002c_4
June. 14		fill in the blank ebaf4602afe002c_6	fill in the blank ebaf4602afe002c_7
		fill in the blank ebaf4602afe002c_9	fill in the blank ebaf4602afe002c_10
		fill in the blank ebaf4602afe002c_12	fill in the blank ebaf4602afe002c_13
Nov. 23		fill in the blank ebaf4602afe002c_15	fill in the blank ebaf4602afe002c_16
		fill in the blank ebaf4602afe002c_18	fill in the blank ebaf4602afe002c_19
		fill in the blank ebaf4602afe002c_21	fill in the blank ebaf4602afe002c_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 62775e047ff4fe9_1

c. What is the balance in Treasury Stock on December 31 of the current year? $fill in the blank 62775e047ff4fe9_3

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

Chapter 13 Exercises and Problem eBook Show Me How E Print Item 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 $40 per share. On June 14, 6,800 of the reacquired shares were sold at $44 per share, and on November 23, 2,600 of the reacquired shares were sold at $46. 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 June. 14 111 111 III III Nov. 23 b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? c. What is the balance in Treasury Stock on December 31 of the current year? d. How will the balance in Treasury Stock be reported on the balance sheet