582 Basic Financial Ace SCORE: PROFESSOR: NAME SECTION: Problem M8 Effects of Transactions Indicate the effects of each of the following transactions on Assets, Liabilities, Share Capital and Retained Earnings. Use + for increase, - for decrease, and for no effect. Share Retained Earnings Assets Capital Liabilities Declaration of cash dividends Payment of cash dividends 3 Declaration of share dividends Issuance of share dividends 5. Cash purchase of treasury stock 6. Sale of treasury stock below cost 4 Problem #9 Entries for Cash Dividends The dates of importance in connection with a cash dividend of P35,000 on a corporation's ordinary shares are Jan. 2, Jan. 22, and Feb. 1. Required: Journalize the entries required on each date