On question 5 1-Dec Company has the following items on its balance sheet 500,000 issued shares at a book value of Contributed surplus account has a balance of 6,000,000 $75,000 CR $200,000 to reaquire 20000 shares on 11-Dec a) Company paid DATE DESCRIPTION 11-Dec DR | | CR 4 marks REMEMBER PART A b) On January 27th, the Company pays 1,000,000 to reacquire 40000 Shares DATE DESCRIPTION DR CR 27-Jan 4 marks