Principles of Accounting 11 (ACC 220): 2 Exam QUESTION 1 [10 MARKS] FELCROM-EXCEL was established in 1998 and had been growing and diversifying itself, since then becoming one of the leading Oil and Gas companies in the region. Its excellent track record leads to the recent move to go public. On January 1, 2022, the stockholders' equity section of FELCROM-EXCEL Corporation shows ordinary share (AED5 par value) AED1,500,000; share premium-ordinary AED1,000,000; and retained earnings AED1,200,000. During the year, the following shares transactions occurred. Date Feb. 17 Mar. 1 July 1 Particular Issued 200,000 ordinary shares at par value Purchased 40,000 of its own shares for cash at AED16 per share Sold 5,000 treasury shares for cash at AED17 per share. Sept. 1 Sold 25,000 treasury shares for cash at AED12 per share. REQUIRED: Journalize the transactions.