To raise cash for future expansion, Alex Kerr incorporated his proprietorship and created Kerr Consulting Corporation. Kerr Consulting Corporation is authorized to issue an unlimited number of common shares and 50,000 $2.00 preferred shares. On February 1, 2014,

Alex Kerr purchased 20,000 common shares for his proprietorship equity of $36,364 to maintain control of the company and issued 1,000 of the preferred shares for $50.00 per share. In March 2014, Kerr Consulting Corporation has the following transactions related to its common shares:

Mar. 3 The company sold 1,000 of its common shares for $10.00 per share to a small number of people who believed in the company's potential for profit.

20 The company repurchased 100 of its common shares for $12.00 per share from a shareholder who was having financial difficulties.

30 The company sold 100 shares for $15.00 per share.

Required

1. Journalize the entries related to the transactions.

2. Calculate the ending balance in the Common Shares account.