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Assignment 1 on treasury shares: On January 1, 2020, the equity section of Bergin Stores shows share capital-ordinary ($10 par value) $3000,000; share premium ordinary

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Assignment 1 on treasury shares: On January 1, 2020, the equity section of Bergin Stores shows share capital-ordinary ($10 par value) $3000,000; share premium ordinary $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

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