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I v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator%3D&inprogress3-false
Instructions
Chart of Accounts
Journal
Final Questions
Instructions
Lawn Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Lawn Spray Inc. reacquire
19,500 shares of its common stock at $22 per share. On June 14, 13,400 of the reacquired shares were sold at $24 per share, and on November 23 , 5,000 of the
reacquired shares were sold at $23.
Required:
A. Journalize the transactions of January 31, June 14, and November 23. Refer to the Chart of Accounts for exact wording of account titles.
B. is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
C. 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?

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