Foodmart, Inc. completed the following treasury stock transactions in 2018:
Mar. 3 Rurchased 1,Bed shares of the company's $\$ 3$ par value common stock as treasury stock, paying cash of $\$ 10$ per share.
Mar. 17 Sold 400 shares of the treasury stock for cash of $\$ 12$ per share.
Mar. 25 Sold 600 shares of the treasury stock for cash of $\$ 7$ per share.
(Assume the balance in Paid-In Capital from Treasury Stock Transactions on March 24 is $ 1,200.)
Journalize these transactions. Explanations are not required.
How will Foodmart, Inc. report treasury stock on its balance sheet as of December 31, 2018?

Question

Foodmart, Inc. completed the following treasury stock transactions in 2018:
 Mar. 3 Rurchased 1,Bed shares of the company's $\$ 3$ par value common stock as treasury stock, paying cash of $\$ 10$ per share.
Mar. 17 Sold 400 shares of the treasury stock for cash of $\$ 12$ per share.
Mar. 25 Sold 600 shares of the treasury stock for cash of $\$ 7$ per share.
 (Assume the balance in Paid-In Capital from Treasury Stock Transactions on March 24 is $ 1,200.)
Journalize these transactions. Explanations are not required.
How will Foodmart, Inc. report treasury stock on its balance sheet as of December 31, 2018?

Quizplus · Accepted Answer

The Answer of Foodmart, Inc. completed the following treasury stock transactions in 2018:
 Mar. 3 Rurchased 1,Bed shares of the company's $\$ 3$ par value common stock as treasury stock, paying cash of $\$ 10$ per share.
Mar. 17 Sold 400 shares of the treasury stock for cash of $\$ 12$ per share.
Mar. 25 Sold 600 shares of the treasury stock for cash of $\$ 7$ per share.
 (Assume the balance in Paid-In Capital from Treasury Stock Transactions on March 24 is $ 1,200.)
Journalize these transactions. Explanations are not required.
How will Foodmart, Inc. report treasury stock on its balance sheet as of December 31, 2018?

Foodmart, Inc $3\$ 3$3 Par Value Common Stock as Treasury Stock, Paying Cash Of

Foodmart, Inc $\$ 3$ Par Value Common Stock as Treasury Stock, Paying Cash Of