Beaverhead Creek Inc bottles and distributes spring water On March 4 of the current year, Beaverhead Creek reacquired 5,000 shares of its common stock at $90 per share On August 7, Beaverhead Creek sold 3,500 of the reacquired shares at $100 per share The remaining 1,500 shares were sold at $88 per...

a b c They may have purchased the treasury stock in order to resell then to employees reissue as b ...

Beaverhead Creek Inc. bottles and distributes spring water. On March 4 of the current year, Beaverhead Creek

Question:

Beaverhead Creek Inc. bottles and distributes spring water. On March 4 of the current year, Beaverhead Creek reacquired 5,000 shares of its at $90 per share.
On August 7, Beaverhead Creek sold 3,500 of the reacquired shares at $100 per share.
The remaining 1,500 shares were sold at $88 per share on November 29.
(a) Journalize the transactions of March 4, August 7, and November 29.
(b) What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
(c) For what reasons might Beaverhead Creek have purchased the treasury stock?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...