Company H has one class of Common Stock Class A.

There are 15 million Class A shares and they each carry a Par Value of $ 1. The Class A shares were issued at a market price of $ 30 per share. The shares are publicly traded on the New York Stock Exchange.

1. Show the Journal Entry for the issuance of the Class A shares.

2. Company H proposes to buy land which does not have a specified fair value. It offers the land owner 100,000 shares when the stock price for Class A shares has risen to $ 50 per share. Assuming this arrangement is concluded show the journal entry that would be made.

3. The company decides to have an active repurchase and reselling program for the Class A shares.
   1. 100,000 Class A shares are repurchased at a price of $ 40 each. Show the entry for this.

2. Of those shares 50,000 are resold at a price of $45 each. Show the entry for this.

3. Then 25,000 shares are resold at a price of $ 20 per share. Show the entry for this.

4. After these three transactions:
   1. How many Shares are left in the Treasury Share account?

2. What is the balance in the Treasury Share account?

3. It is a Debit or Credit Balance?

Does this mean that Equity is increased or decreased to the extent of this final balance in the Treasury Share account?