Transactions affect various financial statement amounts. Total Retained Stockholders Net Profit Earnings Equity a. A stock dividend
Question:
Transactions affect various financial statement amounts.
Total Retained Stockholders’
Net Profit Earnings Equity
a. A stock dividend is declared and paid. ______ ______ ______
b. Merchandise is purchased on credit. ______ ______ ______
c. Marketable securities are sold above cost. ______ ______ ______
d. Accounts receivable are collected. ______ ______ ______
e. A cash dividend is declared and paid. ______ ______ ______
f. Treasury stock is purchased and recorded at cost. ______ ______ ______ g. Treasury stock is sold above cost. ______ ______ ______ h. Common stock is sold. ______ ______ ______ i. A fixed asset is sold for less than book value. ______ ______ ______ j. Bonds are converted into common stock. ______ ______ ______ Required Indicate the effects of the transactions listed above on each of the following: net profit, retained earnings, total stockholders’ equity. Use + to indicate an increase, − to indicate a decrease, and 0 to indicate no effect.
Step by Step Answer:
Financial Reporting And Analysis Using Financial Accounting Information
ISBN: 9780324023534
8th Edition
Authors: Charles H Gibson