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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 16,200 shares of its common stock at $33 per share. On June 14, 10,200 of the reacquired shares were sold at $36 per share, and on November 23, 3,900 of the reacquired shares were sold at $38. a. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank. Jan. 31 Treasury Stock v Cash v June. 14 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Cash v Nov. 23 Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Feedback b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit v c. What is the balance in Treasury Stock on December 31 of the current year? Debit v d. How will the balance in Treasury Stock be reported on the balance sheet? As a deduction from stockholders' equity v 00 100 100

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 16,200 shares of its common stock at $33 per share. On June 14, 10,200 of the reacquired shares were sold at $36 per share, and on November 23, 3,900 of the reacquired shares were sold at $38. a. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank. Jan. 31 Treasury Stock v Cash v June. 14 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Cash v Nov. 23 Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Feedback b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit v c. What is the balance in Treasury Stock on December 31 of the current year? Debit v d. How will the balance in Treasury Stock be reported on the balance sheet? As a deduction from stockholders' equity v 00 100 100

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16P: Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018,...
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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 16,200 shares of its common stock at $33 per share. On June 14, 10,200 of the reacquired shares were sold at $36 per share, and on November 23, 3,900 of the reacquired shares were sold at $38. a. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank. Jan. 31 Treasury Stock v Cash v June. 14 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock Nov. 23 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Feedback b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit v c. What is the balance in Treasury Stock on December 31 of the current year? Debit v d. How will the balance in Treasury Stock be reported on the balance sheet? As a deduction from stockholders' equity v
Transcribed Image Text: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 16,200 shares of its common stock at $33 per share. On June 14, 10,200 of the reacquired shares were sold at $36 per share, and on November 23, 3,900 of the reacquired shares were sold at $38. a. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank. Jan. 31 Treasury Stock v Cash v June. 14 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock Nov. 23 Cash v Treasury Stock v Paid-In Capital from Sale of Treasury Stock v Feedback b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit v c. What is the balance in Treasury Stock on December 31 of the current year? Debit v d. How will the balance in Treasury Stock be reported on the balance sheet? As a deduction from stockholders' equity v
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