QUESTION 3 Shares transactions (11 Marks) Burgess Corporation has a total of 55,000 common shares issued. Burgess Corporation has the following account balances Common shares $550,000 Contributed capital reacquisition of common shares $15,000 Retained earnings $725,000 Instructions Parti a) What is the average cost per share? (1 mark) Part II (10 marks) Record each of these independent transactions (a) Burgess reacquires 8,000 of its shares at $8 per share. (6) Burgess reacquires 6,000 of its shares at $12 per share. (c) Burgess reacquires 8,000 of its shares at $15 per share. Dr G Date Account title and explanation