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A company reported the following stockholders' equity on January 1 of the current year: Common Stock, 10$ par, 1,000,000 shares authorized, 400,000 shares issued $4,000,000

A company reported the following stockholders' equity on January 1 of the current year:

Common Stock, 10$ par, 1,000,000 shares authorized, 400,000 shares issued $4,000,000

Paid-in capital in excess of par, common $1,200,000

Retained Earnings $1,600,000

Total stock holders equity $6,800,000

What is the Journal entries for the following trasnaction relate to the companies stock during the current year-

May 1 Purchased 10,000 shares of treasury stock for $17 per share

May 5 Sold 4,000 shares of treasury stock for 16$ per share

Oct. 12 Sold 2,000 shares of treasury stock for $18 per share

Date Account titles and explanation p.r. Debit Credit

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