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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College Accounting Chapters 1-26

ISBN: 9780395796993

6th Edition

Authors: Douglas J. McQuaig, Patricia A. Bille

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