Kanish Corporation's general ledger includes the following account balances:

Contributed Surplus	Common Shares	Retained Earnings
$8,000	$270,000	$85,000

The Contributed Surplus account arose from net excess of proceeds over cost on a previous cancellation of common shares. The average cost of the common shares bought and cancelled in the first two transactions is $30 per share.

Instructions

Assuming that the above balances existed before any of the transactions that follow, record the journal entries for each transaction.

(a) Bought and cancelled 430 shares at $38 per share.

(b) Bought and cancelled 200 shares at $44 per share.

(c) Sold 3,200 shares at $41 per share.

(d) Sold 1,500 shares at $47 per share.