Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sprayco inc. develops and produces spraying equipm

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

90.2K

Verified Solution

Question

Accounting

SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 9,800 shares of its common stock at $37 per share. On June 9,6,200 of the reacquired shares were sold at $40 per share, and on November 13,2,400 of the reacquired shares were sold at $43.
Question Content Area
a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not require an entry, leave it blank.
Mar. 9
June 9
Nov. 13
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 8a0639f9dffff9e_1
c. What is the balance in Treasury Stock on December 31 of the current year?
$fill in the blank 8a0639f9dffff9e_3
d. How will the balance in Treasury Stock be reported on the balance sheet?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Show that the probability that all permutations of the sequence 1, 2, . . . ,...

Chemistry
1.2K views

Given the following atomic weights, that the density of acetic acid is 1.05, and that 5.3...

Medical Sciences
1.2K views

In your own words, describe the physiologic functions of the following gastric secretions: hydrochloric acid, pepsin,...

Physics
1.2K views

A football receiver running straight downfield at 5.50 m/s is 10.0 m in front of the quarterback...

Physics
1.2K views

3 A wire bent into a regular polygon of n sides is inscribed in a...

Statistics
1.2K views

Te Gata in the following table show the association between cigar smoking and death from...

Algebra
1.2K views

Real estate brokers and sales agents are allowed to give legal advice because OA neither...

Accounting
1.2K views

For the year ending December 31, 2020, Vaughn Inc. reports net income $139,000 and cash...

Accounting
1.2K views

Things sold: follow the instructions in the green box and create a pivot table ...

Accounting
1.2K views

Budgets have been criticised for being too time-consuming; imposing a vertical command and control structure;...

Accounting
1.2K views

What is 3,980,250 rounded to the nearest dollar?

Finance
1.2K views

Someone obtained a mortgage of 81920 to finance a $150,000 home. The title search will...