Question 1: Chapter-14 (A14-10) (12 Marks) Wonder Ltd. has treasury stock transactions in 20x9 as follows: a. Feb. 27 Purchased 140,000 common shares as treasury stock at $6.50 per share. b. March 15 Purchased 64,000 common shares as treasury stock for $5.50 per share. c. April 30 Reissued 100,000 shares of treasury stock for $4.25 per share. d. May 16 Purchased 54,000 common shares as treasury stock for $6.05 per share. e. Nov. 26 Reissued 268,000 shares of treasury stock for $4 per share. At the end of 20X8, Wonder Limited had reported the following in shareholders' equity: $ 21,117,000 Common shares, no-par value; authorized, unlimited shares; issued, 5,800,000 shares, outstanding, 5,500,000 shares Contributed capital on treasury stock transactions Retained earnings Treasury stock, 300,000 common shares 133,600 3,850,000 (1,260,000) Required: 1. Prepare journal entries for the treasury stock transactions. 2. Calculate the balances in the equity accounts, after the effects of the transactions in requirement 1