Question: Please answer in proper format with all working clearly Note : Every entry should have narration please #2. On January I, 2022. the equity section

Please answer in proper format with all working clearly Note : Every entry should have narration please

Please answer in proper format with all working
#2. On January I, 2022. the equity section of Zooba Corporation shows: Share capitalordinary ($5 par value) $1,500,000; share premiumordinary $1,000,000; and retained earnings $1,200,000. During the year, the following treasury share transactions occurred. Mar. 1 Purchased 20,000 shares for cash at $15 per share. July 1 Sold 4,000 treasury shares for cash at $13 per share. Sept. 1 Sold 5,000 treasury shares for cash at $14 per share. Instructions (a) Journalize the treasury share transactions. (b) Restate the entry for September 1, assuming the treasury shares were sold at $10 per share

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