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Record the transactions by the cost method

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Question - Nelson Company's statement of financial position shows:

Share capital-ordinary, $20 par $3,000,000

Share premium-ordinary 1,050,000

Retained earnings 750,000

Record the following transactions by the cost method.

(a) Bought 5,000 ordinary shares at $29 a share.

(b) Sold 2,500 treasury shares at $30 a share.

(c) Sold 1,000 shares of treasury shares at $26 a share.

Reference no: EM132983945

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