E13.8 (LO 3) On January 1, 2020, the equity section of Bergin ASA shows share capital-ordinary (£5 par value) £1,500,000; share premium-ordinary £1,000,000; and retained earnings £1,200,000. During the year, the following treasury share transactions occurred. Journalize treasury share transactions. Mar. Purchased 50,000 shares for 1 cash at £12 per share. July Sold 10,000 treasury shares for 1 cash at £14 per share. Sept. Sold 8,000 treasury shares for 1 cash at £10 per share. Instructions a. Journalize the treasury share transactions. b. Restate the entry for September 1, assuming the treasury shares were sold at £9 per share.

J2.

Before Riverbed Ltd. engages in the treasury share transactions listed below, its general ledger reflects, among others, the following account balances (par value is £30 per share). Share Premium-Ordinary Share Capital-Ordinary £91,700 £269,400 Retained Earnings (a) Bought 390 treasury shares at £39 per share. (b) Bought 300 treasury shares at £45 per share. (c) Sold 350 treasury shares at £41 per share. (d) Sold 100 treasury shares at £37 per share. £81,900 Record the treasury share transactions (given below) under the cost method of handling treasury shares; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

On June 30, 2020, when ABC shares were selling for $ 65 each, the equity accounts had the following balances:               Common shares (par value $ 50: 50,000 issued) $ 2,500,000                Capital contributed in excess of par value 600,000                Retained earnings 4,200,000 A 100% share dividend is declared and distributed, the balance of the Common Shares account after recording the dividend will be: a. $2,500,000 b. $7,300,000 c. $3,100,000 d. $5,000,000