Use the Dynamic Exhibit to answer the following questions. 1. When treasury stock is purchased for $42 per share and subsequently sold for $47 per share, treasury stock is credited for $ per share and Paid-in Capital from the sale of Treasury Stock is credited for $ per share when the sale is recorded. 2. When treasury stock is purchased for $42 per share and subsequently sold for $40 per share, treasury stock is credited for $ per share and Paid-in Capital from the Sale of Treasury Stock is debited for $ per share when the sale is recorded. 3. When treasury stock is purchased for $38 per share and subsequently sold for $47 per share, treasury stock is credited for $ per share and Paid-in Capital from the Sale of Treasury Stock is credited for $ per share when the sale is recorded. 4. When treasury stock is purchased for $38 per share and subsequently sold for $40 per share, treasury stock is credited for $ per share and Paid-in Capital from the Sale of Treasury Stock is credited for $ per share when the sale is recorded. On May 3, Buzz Off Corporation reacquired 3,200 shares of its common stock at $38 per share. On July 22, Buzz Off sold 2,000 of the reacquired shares at $45 per share. On August 30, Buzz Off sold the remaining shares at $40 per share. Journalize the transactions. $38 $42 Move the slider to change the values. Purchase price Click on Sell price to view the information. $45 $47 View Analysis Journal Page 01 Date Description Post. Ref. Debit Magredit Treasury Stock 121,600 Cash 121,600 Purchased 3,200 shares of treasury stock at $38. July 22 Cash 90,000 Treasury Stock 76,000 Paid-in Capital from Sale of Treasury Stock 14,000 Sold 2,000 shares of treasury stock at $45. Aug. 30 Cash 48,000 Paid-in Capital from Sale of Treasury Stock 2,400 Treasury stock 45,600 Sold 1,200 shares of treasury stock at $40. Asset Accounts Shareholders' Equity Accounts Cash Treasury Stock AAAAAAAAAAN May 3 121,600 July 22 90,000 Aug. 30 48,000 Aug. 30 45,600 Paid-in Capital from Sale of Treasury Stock Aug. 30 2,400 On May 3, Buzz Off Corporation reacquired 3,200 shares of its common stock at $42 per share. On July 22, Buzz Off sold 2,000 of the reacquired shares at $45 per share. On August 30, Buzz Off sold the remaining shares at $40 per share. Journalize the transactions. $38 $42 Move the slider to change the values. Purchase price Sell price Click on to view the information. $45 $47 View Analysis Journal Page 01 Date Description Post. Ref. Debit Meredit Treasury Stock 134,400 Cash 134,400 Purchased 3,200 shares of treasury stock at $42. July 22 Cash i 90,000 Treasury Stock 84,000 Paid-in Capital from Sale of Treasury Stock 6,000 Sold 2,000 shares of treasury stock at $45. Aug. 30 Cash 2 48,000- Paid-in Capital from Sale of Treasury Stock 2,400 Treasury stock 50,400 Sold 1,200 shares of treasury stock at $40. Asset Accounts Shareholders' Equity Accounts Cash Treasury Stock AAAAAAAAAAA May 3 134,400 July 22 90,000 Aug. 30 48,000 Aug. 30 50,400 Paid-in Capital from Sale of Treasury Stock Aug. 30 2,400 July 22 6,000 On May 3, Buzz Off Corporation reacquired 3,200 shares of its common stock at $38 per share. On July 22, Buzz Off sold 2,000 of the reacquired shares at $47 per share. On August 30, Buzz Off sold the remaining shares at $40 per share. Journalize the transactions. $38 $42 Move the slider to change the values. Purchase price Sell price Click on to view the information. $45 $47 View Analysis Journal Page 01 Date Description Post. Ref. Debit Meredit Treasury Stock 121,600 Cash 121,600 Purchased 3,200 shares of treasury stock at $38. July 22 Cash 94,000 Treasury Stock 76,000 Paid-in Capital from Sale of Treasury Stock 18,000 Sold 2,000 shares of treasury stock at $47. Aug. 30 Cash 48,000- Paid-in Capital from Sale of Treasury Stock 2,400 Treasury stock 45,600 Sold 1,200 shares of treasury stock at $40. Asset Accounts Shareholders' Equity Accounts Cash Treasury Stock May 3 121,600 July 22 94,000 Aug. 30 48,000 Aug. 30 45,600 Paid-in Capital from Sale of Treasury Stock Aug. 30 2,400
