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Arab Co. has 150,000 ordinary shares outstanding of JOD 15 par value which had been issued at 30 per Share. Arab Co.. then entered into

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Arab Co. has 150,000 ordinary shares outstanding of JOD 15 par value which had been issued at 30 per Share. Arab Co.. then entered into the following transactions. Indicate the effect each of the three transactions has on the financial statement categories listed below, assuming Arab Co. Company uses the cost method. (6 marks) 1- Purchased 15,000 treasury shares at JOD 105 per share (2 Marks). 6 points Increase Decrease No Effect Assets Liabilities Equity Share Premium O Retained Earnings Net Income

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