Presented below are a number of transactions. Determine whether each transaction affects common stock (C), dividends (D),

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Presented below are a number of transactions. Determine whether each transaction affects common stock (C), dividends (D), revenue (R), expense (E), or does not affect stockholders’ equity (NSE). Provide titles for the revenues and expenses.

(a) Costs incurred for advertising.

(b) Assets received for services performed.

(c) Costs incurred for insurance.

(d) Amounts paid to employees.

(e) Cash distributed to stockholders.

(f) Assets received in exchange for allowing the use of the company’s building.

(g) Costs incurred for utilities used.

(h) Paid cash to purchase equipment.

(i) Received cash from investors in exchange for common stock.

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471730514

4th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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