SprayCo Inc develops and produces spraying equipment for lawn maintenance and industrial uses On March 9 of the current year, SprayCo reacquired 62,000 shares of its common stock at $51 per share On June 9, 48,000 of the reacquired shares were sold at $60 per share, and on November 13, 7,500 of the...

a Mar 9 Treasury Stock 62000 51 3162000 Cash 3162000 ...

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of

Question:

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 62,000 shares of its at $51 per share. On June 9, 48,000 of the reacquired shares were sold at $60 per share, and on November 13, 7,500 of the reacquired shares were sold at $54.
a. Journalize the transactions of March 9, June 9, and November 13.
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
c. What is the balance in Treasury Stock on December 31 of the current year?
d. How will the balance in Treasury Stock be reported on the balance sheet?
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...