The board of B Co Ltd authorizes the repurchase of 50,000 shares of its common stock, which has a $1 par value. The company originally sold the sales for $12 each, or $600,000 in total. On January 10 they repurchases the shares for the same amount but does not intend to eliminate the shares. Record the transaction. (2 Marks) Particulars Dr Cr On June 1, the company has a choice of either selling the shares to investors again, or of permanently retiring the shares. They decide to reissue the shares at a price of $13 per share. Record the transaction. (3 Marks) Particulars Dr Cr JE. 5 In 2001 BCo issued 10000 shares of $2 cumulative, redeemable Preferred Shares that have a stated value of $20 each for a price of $30 each. In 2005 they redeem 5000 shares at a price of $35 each. Assume all dividends have been paid up to date. Record the redemption of the shares (4 Marks) Particulars Dr Cr