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Culver Ltd. purchased from its sharesholders 6,000 shares of its own previously issued shares for 306,000. It later resold 1,975 shares for 54 per share,
Culver Ltd. purchased from its sharesholders 6,000 shares of its own previously issued shares for 306,000. It later resold 1,975 shares for 54 per share, then 2,000 more shares for 49 per share, and finally 2,025 shares for 43 per share. Prepare journal entries for the purchase of the treasury shares and the three sales of treasury shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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