Answer:
A. The Journal entry is shown below:-
B. $86,900
C.$22,800
Explanation:
The Journal entry is shown below:-
1. Treasury Stock Dr, $372,400
(19,600 shares × $19)
To Cash $372,400
(Being cash is recorded)
2. Cash Dr, $342,500
(13,700 × $25)
To Treasury stock 260,300
(13,700 × $19)
To Paid-In Capital from sale of treasury stock $82,200
(Being cash is recorded)
3. Cash Dr, $94,000
(4,700 × $20)
To Treasury Stock $89,300
(4,700 × $19)
To Paid-In Capital from Sale of Treasury Stock $4,700
(Being reacquired shares is recorded)
B. Balance in Paid-In Capital from Sale of Treasury Stock = $82,200 + $4,700
= $86,900
C. Balance in Treasury Stock = $372,400 - $260,300 - $89,300
= $22,800
