Treasury Stock Transactions

Sun Dance Gardens Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On June $3$ of the current year, Sun Dance Gardens Inc.

reacquired $12,400$ shares of its common stock at $$45$ per share. Sun Dance had not previously purchased any treasury shares.

a$.$ What is the balance of Treasury Stock on December $31$ of the current year?

$

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

c$.$ Assume that Sun Dance Gardens sold $7,800$ shares of its treasury stock at $$49$ on November $2.$ What accounts would be affected by the sale of the treasury stock?

Paid$-$In Capital from Treasury Stock

Cash

Treasury Stock

by $

by $

by $