On

January10, 2016, Talented Marketing purchased treasury stock at a cost of $21 million. On

July 3,2016,Talented Marketing resold some of the treasury stock for $14 million; this resold treasury stock had costTalented Marketing $6 million.

Record the purchase and resale of

Talented Marketing'sTalented Marketing's

treasury stock. Overall, how much did stockholders' equity increase or decrease as a result of the twotreasury-stock transactions?

Record the purchase and resale of Talented Marketing's treasury stock. (Record debits first, then credits. Exclude explanations from any journal entries. Enter amounts in millions as provided to you in the problem statement.)

First, record the purchase of the treasury stock.

Journal Entry
		Accounts	Debit	Credit
			Millions
Jan 10