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E 1 4 . 1 1 B ( LO 3 , 4 ) ( Equity Items on the Balance Sheet ) The following are selected
EB LO Equity Items on the Balance Sheet The following are selected transactions that may affect stockholders' equity: Paid the cash dividend declared in a prior year. Recorded a retained earnings appropriation. Recorded accrued interest earned on a note receivable from a major shareholder. Exercises.indd : PM cKiesoePP L LUMINA DATAMATICS Purchased treasury stock. The company uses the cost method. Recorded salary expense accrual. Declared a cash dividend on preferred stock. Declared and distributed a stock dividend. Issued $ par value common stock current market price of $ per share in exchange for land. Instructions In the table below, indicate the effect each of the eight transactions has on the financial statement elements listed. Use the following code: Increase Decrease effect tableItem Stockholders? Paid Equity Capital Retained Net Earnings Income
EB LO Equity Items on the Balance Sheet The following are selected transactions that may affect stockholders' equity:
Paid the cash dividend declared in a prior year.
Recorded a retained earnings appropriation.
Recorded accrued interest earned on a note receivable from a major shareholder.
Exercises.indd
: PM
cKiesoePP
L
LUMINA
DATAMATICS
Purchased treasury stock. The company uses the cost method.
Recorded salary expense accrual.
Declared a cash dividend on preferred stock.
Declared and distributed a stock dividend.
Issued $ par value common stock current market price of $ per share in exchange for land.
Instructions
In the table below, indicate the effect each of the eight transactions has on the financial statement elements listed. Use the following code:
Increase Decrease effect
tableItem
Stockholders? Paid
Equity Capital
Retained
Net
Earnings
Income
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