TRIKI Prindiples of Accounting II (ACC 220M): Assignment 3 QUESTION 1 a) Roca Company originally issued 30,000 shares of $5 par ordinary shares for $240,000 on January 3, 2019. Roca purchased from its shareholder 12,000 shares of its own previously issued shares for $132,000 on October 2, 2019. On November 1, 2019, 6,000 shares of the treasury stock are sold for $78,000. Then, 4,000 more treasury shares are sold for $36,000 on November 25, 2019. Finally, 2,000 treasury shares are sold for $12,000 on December 5, 2019. REQUIRED: Prepare journal entries to record treasury stock transactions. b) Ming Limited was organized on January 1, 2020. It is authorized to issue 15,000 7%, $1,000 par value preference shares, and 400,000 no-par ordinary shares with a stated value of $15 per share. The following share transactions were completed during the first year. Date Transactions Jan. 10 Issued 10,000 ordinary shares to attorneys in payment of their bill of $280,000 for services provided in helping the company organize. Mar. 1 Issued 100,000 ordinary shares for cash at $48 per share Apr. 1 Issued 18,000 ordinary shares for land. The asking price of the land was $780,000. The fair value of the land was $720,000. Aug. 1 Issued 1,000 preference shares for cash at $1,050 per share. REQUIRED: Journalize the above transactions