QUESTION 3 Shares transactions (11 Marks) Burgess Corporation has a total of 55,000 common shares...
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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 Part 1 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. (b) Burgess reacquires 6,000 of its shares at $12 per share. (c) Burgess reacquires 8,000 of its shares at $15 per share Dr CI Date Account title and explanation
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