Assignment 1 on treasury shares:

On January 1, 2020, the equity section of Bergin Stores shows share capitalordinary ($10 par value) $3000,000; share premiumordinary $800,000; retained earnings $ 1500,000 and treasury shares $750,000 ( 50,000 shares at cost $ 15 /share) ,. During the year, the following treasury share transactions occurred.

Mar. 1 Purchased 10,000 shares for cash at $15 per share.

July .1 Sold 20,000 treasury shares for cash at 16 per share.

Sept. 1 Sold 15,000 treasury shares for cash at 13 per share.

Instructions

1. Journalize the treasury share transactions?
2. Report the equity section after transaction occurred on Sep ,1 ?
3. Determine number of outstanding shares after transaction Sep,1 ?