Could someone please!!!!! explain this entry ...

which part you do not understand?  I learned this by doing T accounts. St up a T accounts for ach APIC (normal one), TS, CS and APIC for TS  and plug in the information one at a time.

If you issue/sell stocks get the cash into your "cash" and increased the stock issued (at par) with the diff. to APIC.

If you repurchase stock. (reverse the above J/E) . Paid the cash (out) for the stock you purchased (at par "Pair Value Method") and the diff (between cash paid and par of the stock) to APIC TS. Remember TS Reduce your capital (TS is a contra-equity) DR reduce capital. You are taking back your own stocks. Book the diff as a gain (under the pair value method gain is recognize at repurchase).DO NOT credit this gain to RE. Credit APIC TS.

When re-sale is like issuing stock again (Do not recognize then gain again under par value method, you already did this at repurchase date). Only for the Cost method you recogn the gain at resale-reissue.

Take a look at homework reading Becker - Pags 52-54 Excellent examples to better understand both methos Pair Value and Cost Method.  I admit I cannot explain things well.

Hope it helps.

On page 54 fpr Par value method for JE # 3

Y are we crediting APIC - cs instead of APIC-TS