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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
Treasury stock transactions
SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March of the current year, SprayCo reacquired shares of
its common stock at $ per share. On June of the reacquired shares were sold at $ per share, and on November of the reacquired shares were
sold at $
a Journalize the transactions of March June and November If an amount box does not require an entry, leave it blank.
Mar. Treasury Stock
June
Nov.
PaidIn Capital from Sale of Treasury Stock
b What is the balance in PaidIn Capital from Sale of Treasury Stock on December of the current year?
Credit
c What is the balance in Treasury Stock on December of the current year?
Debit
d How will the balance in Treasury Stock be reported on the balance sheet?
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