Topic: Treasury Shares Exercises

The Estrella Corporation purchased 5,000 outstanding shares (which had already been issued previously) from its shareholders and paid $250,000.00 for them. Sometime after this transaction, he resold 2,000 shares for a price of $53 per share, then resold another 2,000 shares for a price of $48 per share, and finally resold 1,000 shares for a price of $43 per share.

Prepare journal entries for the purchase of the outstanding shares and the three sales of treasury shares.

You must record each and every transaction in the Treasury Stock Journal.

Compose with the results of your calculations in a writing in MS Word.

Please provide a minimum of 6-8 parragraphs of 5 sentences each. It must include at least 2 academic sources, formats and cited in accordance with current APA regulations.