Indicate the effect, if any, of each of the following transactions on total Retained Earnings of Thompson
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Indicate the effect, if any, of each of the following transactions on total Retained Earnings of Thompson Company, Inc.:
a. Paid accounts payable.
b. Wrote off Accounts Receivable against Allowance for Doubtful Accounts.
c. Bought equipment on account, $58,000.
d. The board of directors declared a 20 percent stock dividend, to be issued thirty days from the present date.
e. The board of directors voted to appropriate $98,000 for future expansion.
f. Issued 2,500 shares of $25-par-value common stock, receiving $34 per share.
g. Issued the stock dividend declared in transaction d.
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Related Book For
College Accounting Chapters 1-26
ISBN: 9780395796993
6th Edition
Authors: Douglas J. McQuaig, Patricia A. Bille
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