Question

Goosen Company has outstanding 40,000 shares of R5 par ordinary shares, which had been issued at R30 per share. Goosen then entered into the following transactions.
1. Purchased 5,000 treasury shares at R45 per share.
2. Resold 500 of the treasury shares at R40 per share.
3. Resold 2,000 of the treasury shares at R49 per share.

Instructions
Use the following code to indicate the effect each of the three transactions has on the financial statement categories listed in the table below, assuming Goosen Company uses the cost method: I = Increase;
D = Decrease; NE = Noeffect.


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  • CreatedJune 17, 2013
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