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Question Two: ( 6 marks) Ellison Company's statement of financial position shows: Required: Record the following transactions by the cost method. (a) Bought 5,000 ordinary

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Question Two: ( 6 marks) Ellison Company's statement of financial position shows: Required: 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

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