Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 42,000 shares of its common stock at $36 per share. On June 14, 19,000 of the reacquired shares were sold at $43 per share, and on November 23, 16,000 of the reacquired shares were sold at $39.

Required:

a.	Journalize the transactions of January 31, June 14, and November 23.

Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 42,000 shares of its common stock at $36 per share. On June 14, 19,000 of the reacquired shares were sold at $43 per share, and on November 23, 16,000 of the reacquired shares were sold at $39. a. Journalize the transactions of January 31, June 14, and November 23. Credit: Debit: 1,512,000 Shares: Per Value: Jan. 31 42,000 36 Jun. 14 19,000 43 Nov. 14 16,000 39 1,512,000 817,000 Date: Account: Jan. 31 Treasury Stock Cash Jun. 14 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock Nov. 14 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock 684,000 133,000 624,000 48,000 576,000 b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Paid-In Capital from Sale = 709,000 Credit fffff c. What is the balance in Treasury Stock on December 31 of the current year? Why is this amount incorrect? 133,000 + 48,000 Treasury Stock = 252,000 Debit