Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 42,000 shares of its common stock at $36 per share. On June 14, 19,000 of the reacquired shares were sold at $43 per share, and on November 23, 16,000 of the reacquired shares were sold at $39. 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   fill in the blank  fill in the blank      fill in the blank  fill in the blank  June. 14   fill in the blank  fill in the blank      fill in the blank  fill in the blank      fill in the blank  fill in the blank  Nov. 23   fill in the blank  fill in the blank      fill in the blank  fill in the blank      fill in the blank  fill in the blank  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  c.  What is the balance in Treasury Stock on December 31 of the current year? $fill in the blank  d.  How will the balance in Treasury Stock be reported on the balance sheet?

Q: Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake…

A: Treasury stock=Number of shares×Per share value=5,100×$64=$326,400

Q: Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake…

A: a.

Q: Treasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn…

A: Note : Since you have posted question with multiple sub-parts , we will do first three sub-parts for…

Q: Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Treasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn…

A: a) When treasury stock is reissued at price more than cost, then premium is credited to paid-in…

Q: Treasury Stock Transactions Lava Lake Inc. bottles and distributes spring water. On February 11 of…

A: The stock which is bought back or repurchased by the shareholders of the entity is generally…

Q: On January 1, 2021. Hum Enterprises Inc. had 80.000 common shares, recorded at $560,000. The company…

A: Share refers to the unit that is issued by the company into a market to raise funds by making an…

Q: Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe…

A: Definition:

Q: Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the…

A:

Q: Bacalso Enterprises, Inc. manufactures bathroom fixtures. The shareholders' equ accounts with…

A: Treasury shares refer to the own shares that are brought back by the company from the market.

Q: Selected stock transactions   The following selected accounts appear in the ledger of Parks…

A: Journal entry is the initial entry for recording the transaction in the books of accounts as per…

Q: Elk River Corporation sells and services pipe welding equipment in Wyoming. The following selected…

A: Treasury stock refers to those shares that are brought back by the company from the market. Treasury…

Q: Record following stock transactions of Smith Corporation, which represent all its treasury stock…

A: Journal entry: It is the primary stage of recording any transactions incurred in the business. It…

Q: Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn…

A: Jan 31     Treasury Stock A/c DR    $1512000                            To Cash A/c…

Q: Help

A: Treasury stock is the stock purchased by corporates and retained either for selling or liquidation.

Q: Omniponent company had 100 000 ordinary shares issued and outstanding at January 1. During the…

A: Particulars No. Beginning ordinary shares issued  100000 Add: shares issued (30000*9/12) 22500…

Q: Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the…

A: Purchase of treasury stock means purchase of its own share from the market.

Q: Accounting The Collyer Corporation authorizes the issuance of 5,000,000 shares of $1 par common…

A: Journal is the primary book where transactions are originally recorded. A journal entry is used to…

Q: Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois.…

A: Journal entry is the process using which the financial transactions related to the business are…

Q: reasury Stock Transactions ard Spray Inc. develops and produces spraying eguipment for lawn…

A: Treasury stocks are repurchased shares of the company.The firm has the power to re issue these…

Q: reasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn…

A: Step 1 Treasury stock is a reserved stock set aside to raise funds or pay for future investments.

Q: A Calculator On January 1, Sunshine Corporation had 38,000 shares of $12 par value common stock…

A: Treasury Stock: It refers to the shares that are reacquired by the corporation that are already…

Q: Prepare general journal entries to record these transactions.   Fido Corporation engaged in the…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake…

A: A company may choose to buy back its own issued and outstanding shares from the market. Management…

Q: Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe…

A: Journal entry: It is a primary stage in the accounting of recording the day-to-day operations…

Q: Journalize the transactions of February 11, April 30, and Au

A:

Q: Bonneau Company currently has 20,000 shares of $10 par common stock outstanding. Prepare entries to…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses.…

A: Treasury Stock: It refers to the shares that are reacquired by the corporation that are already…

Q: Steam Room Inc. (SRI) has 15,000 shares issued in total. Assume that on January 1, 2021, Omega…

A: When one company is holding shares in another company from 20% to 50% , then it is called as…

Q: Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn…

A: Journal entries are prepared to record the financial and non-financial transactions of the business…

Q: SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On…

A: A Journal entry is a primary entry that records the financial transactions initially. The financial…

Q: Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses.…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Treasury Stock Transactions Yard Spray Inc. develops and produces spraying equipment for lawn…

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

Q: May 11.  Issued 80,000 shares of common stock in exchange for land and a building, according to the…

A:

Q: Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: Selected stock transactionsThe following selected accounts appear in the ledger of ParksConstruction…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Treasury stock transactions   Mystic Lake Inc. bottles and distributes spring water.On July 9 of the…

A: Journal entry refers to recording and classifying business transactions initially into books of…

Q: , Hydro Clothing Inc. reacquired 65,000 shares of its common stock at $6 per share. On August 3,…

A: Solution: Date Account Title and Explanation Debit Credit 27-May Treasury Stock (65000*$6)…

Q: Wildhorse Inc. uses a calendar year for financial reporting. The company is authorized to issue…

A: Weighted average number of shares: Weighted number of shares outstanding as the name suggests is the…

Q: Treasury Shares On October 10, the capital of the shareholders (stockholders' equity) of Sherman…

A: Lets understand the basics. Journal entry is required to make to record event and transaction that…

Q: Treasury Stock Transactions Lava Lake Inc, bottles and distributes spring water. On February 11 of…

A: Date Account Titles and Explanation  Debit   Credit  Feb'11 Treasury Stock (180,000 shares X $ 17…

Q: Treasury Stock, Cost Method On January 1, Lorain Corporation had 2,000 shares of $5 par common stock…

A: The financial transactions are recorded in the book initially in the journal form.

Q: Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake…

A: Solution a:  Journal Entries for the transactions of July 9, September 22, and November 23 are as…

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.