CulverCompany had the following stockholders' equity as of January 1, 2017.

Common stock, $5par value,18,400shares issued$92,000Paid-in capital in excess of parcommon stock303,000Retained earnings318,000Total stockholders' equity$713,000

During 2017, the following transactions occurred.

Feb. 1Culver repurchased2,100shares of treasury stock at a price of $17per share.Mar. 1880shares of treasury stock repurchased above were reissued at $15per share.Mar. 18480shares of treasury stock repurchased above were reissued at $14per share.Apr. 22610shares of treasury stock repurchased above were reissued at $20per share.

Prepare the journal entries to record the treasury stock transactions in 2017, assuming Culver uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Feb. 1Mar. 1Mar. 18Apr. 22

Mar. 1

Mar. 18

Feb. 1Mar. 1Mar. 18Apr. 22

Prepare the stockholders' equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $135,000. (Enter account name only and do not provide descriptive information.)

CULVER COMPANY

Stockholders' Equity

April 30, 2017For the Year Ended April 30, 2017For the Quarter Ended April 30, 2017

$

Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

AddLess

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Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity

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