Luz A/S purchases 1,000 shares of its own previously issued 5 par value ordinary shares for 9,000.

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Luz A/S purchases 1,000 shares of its own previously issued €5 par value ordinary shares for €9,000. Assuming the shares are held in the treasury, what effect does this transaction have on

(a) Net income,

(b) Total assets,

(d) Total equity?

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Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Question Posted: Jul 10, 2020 06:42 AM

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Luz A/S purchases 1,000 shares of its own previously issued 5 par value ordinary shares for 9,000.

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a No effect on net income b ...View the full answer

Accounting Principles

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