11-9 Recording and Reporting Stockholders Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3]

[The following information applies to the questions displayed below.]

The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

a.	Purchased $350,000 of common stock now held in treasury.
b.	Declared cash dividends in the amount of $260,000.
c.	Paid the dividends in (b).
d.	Issued 100,000 new shares of $0.10 par value common shares for $2 per share.
e.	Closed the Dividends account.

E11-9 Part 1 Required: 1. Indicate the effect (for increase, - for decrease, for increase/decrease) of each of these transactions on total assets, liabilities, and stockholders' equity. (Leave cell blank if there is no effect.) Assets Liabilities Stockholders Equity a. b. C. d. e