Beaverhead creek inc bottles and distributes springwater on

Reference no: EM13598782

Beaverhead Creek Inc. bottles and distributes springwater. On March 4 of the current year, Beaverhead Creek reaquired 5,000 shares of its common stock at $90 per share. On August 7, Beaverhead Creek sold 3,500 of the reaquired shares at $100 per share. The remaining 1,500 shares were sold at $88 per share on November 29.

a. Journalize the transactions of March 4, August 7, and November 29.
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year.
c. For what reasons might Beaverhead Creek have purchased the treasury stock.

Reference no: EM13598782

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