[Accounting] In December 2013, the Board of Directors of AutoZone Inc., an auto parts retailer, approved an increase of

[answerhappygod]

[Accounting]
In December 2013, the Board of Directors of AutoZone Inc., an
auto parts retailer, approved an increase of $750 million in its
stock buyback program. Since 1998, AutoZone's board of directors
has approved $14.2 billion in buybacks.
3. Assume that in January 2014, AutoZone's stock trades at an
average price of $470 per share. Assume also that AutoZone is able
to purchase $150 million worth of its stock back and that these
shares had an average price when issued of $100 per share. How many
shares would it be able to purchase for the $150 million? What
would the journal entry be for this stock buyback? What is the
impact on assets, liabilities, and equity of this stock
buyback?
4. Now assume that AutoZone reissues these shares a year later
when the market price per share is $550. The par value of one share
of common stock is $0.01. What would the journal entry be for this
treasury stock sale?
5. Why might AutoZone want to buy back its stock?