Listed below are events that affect stockholders' equity. a. Reported net income of $85,000. b. Paid a
Question:
a. Reported net income of $85,000.
b. Paid a cash dividend of $10,000.
c. Reported sales revenue of $120,000.
d. Issued common stock of $50,000.
e. Reported a net loss of $20,000.
f. Reported expenses of $35,000.
Required:
For each of the events, indicate whether it increases retained earnings (I), decreases retained earnings (D), or has no effect on retained earnings (NE).
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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a I Increases retained earnings b D Decre...View the full answer
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