b. Why there is Retained Earnings 4,000 on the restate journal entry?

Simson 20 E12.8 (LO 2) On January 1, 2020, the equity section of Bergin Stores shows share capital-ordinary (5 par value) 1,500,000; share premium-ordinary 1,000,000; and retained earnings 1,200,000. During the year, the following treasury share transactions occurred. no a lo notab ol Mar. 1 Purchased 50,000 shares for cash at 12 per share. esim.OCOS Into) July 1 Sold 10,000 treasury shares for cash at 14 per share. Primus bons bolo Sept. 1 Sold 8,000 treasury shares for cash at 10 per share. Instructions a. Journalize the treasury share transactions.. no hrobivirala b. Restate the entry for September 1, assuming the treasury shares were sold at 9 per share.com (b) Sept. 1 Cash (8,000 X 9)................. Share Premium-Treasury Retained Earnings........... Treasury Shares (8,000 X 12) ...... 72,000 20,000 4,000 96,000