Treasury Stock Transactions Biscayne Bay Water inc, botties and distributes spring water. On May 14...
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Treasury Stock Transactions Biscayne Bay Water inc, botties and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc- feacquired 2,500 shares of its common stock at $66 per share. On September 6, Biscayne Bay Water lnc. sold 2,000 of the reacquired shares at $69 per share. The remaining 500 shares were sold at $51 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30 . For a cempound transaction, if an amount box does not require an entry, leave it blanic. b. What is the balarice in Paid-in Capltal from Sale of Treasury Stock an December 31 of the curent year? 1 c. Where will the balance in Paid-in Capital from 5 ale of Treasucy Stock be reported on the balance sheet? d. For what reasons might Biscayne Bay Water Inc. have purchased the treavury stock
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