Treasury Stock Transactions

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 11,500 shares of its common stock at $28 per share. On June 9, 7,200 of the reacquired shares were sold at $30 per share, and on November 13, 2,800 of the reacquired shares were sold at $32.

a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not require an entry, leave it blank.

Mar. 9
June 9
Nov. 13

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?