Prepare the necessary journal entry for each of the following transactions for Nadim Corporation. a) Purchased 5,000 shares of the company’s common stocks as treasury stock, paying cash of $18 per share. b) Sold 3,000 shares of the treasury stock for cash of $22 per share. c) Sold the remaining treasury stock for cash of $10 per share.   What is treasury stock? What type of account is Treasury stock, and what is the account’s normal balance?

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.