Treasury Stock TransactionsYard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 17,000 shares of its common stock at $26 per share. On June 14, 10,700 of the reacquired shares were sold at $28 per share, and on November 23, 4,100 of the reacquired shares were sold at $29.Question Content Areaa. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank.Jan. 31 - Select -- Select - - Select -- Select -June. 14 - Select -- Select - - Select -- Select - - Select -- Select -Nov. 23 - Select -- Select - - Select -- Select - - Select -- Select - Question Content Areab. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?$fill in the blank 7d4c5e016fddfda_1 c. What is the balance in Treasury Stock on December 31 of the current year?$fill in the blank 7d4c5e016fddfda_3 d. How will the balance in Treasury Stock be reported on the balance sheet?

a. Date Particulars Debit Credit Jan 31 Treasury stock (17,000 *26) 442000 Cash 442000…

Answered: Treasury Stock Transactions Yard Spray…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 65E: Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During...

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Question Content Area

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	- Select -	- Select -
	- Select -	- Select -
June. 14	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -
Nov. 23	- Select -	- Select -
	- Select -	- Select -
	- Select -	- Select -

Question Content Area

b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
$fill in the blank 7d4c5e016fddfda_1

c. What is the balance in Treasury Stock on December 31 of the current year?
$fill in the blank 7d4c5e016fddfda_3

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

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