On January 1, 2022, the equity section of Kate Corporation shows: Share capital ordinary ($10 par value) 1,500,000; share premiumordinary 200,000; and retained earnings 500,000. The company uses the cost method to account for treasury share transactions. During 2022, the following treasury share transactions occurred:

Apr. 1 Aug. 1

Oct. 1

Purchased 9,000 shares at 16 per share. Sold 3,000 shares at 18 per share.

Sold 3,000 shares at 15 per share.

Instructions

a. Journalize the treasury share transactions for 2022.

a. Restate the entry for Oct. 1, assuming the treasury shares were sold at 11 per

share.