The shareholders' equity section of the balance sheet of Dodge, Inc. included the following accounts at December 31, 2012:

Shareholders Equity $ in millions

Common stock, 80 million shares at $1 par, ............... $ 80 Paid-in capital excess of par...................................... 560 Paid-in capital reacquired shares................................ 1 Retained earnings.......................................................... 350

Required:

1. During 2013, Dodge reacquired shares of its common stock and later sold shares in two separate transactions. Prepare the entries for both the purchase and subsequent resale of shares, treated as both retired stock and treasury stock.

a. On March 6, 2013, Dodge reacquired 3 million shares of stock at $10 per share.

b. On September 3, 2013, the corporation sold 1 million shares at $11 per share.

c. On October 12, 2015, the corporation sold 1 million shares at $4 per share