EXERCISES

Exercise $13-1$ Financial statement impact of dividends and splits L$01$

For each dividend and stock split issued, determine the impact for the shareholder$-$increase, decrease, or no effect$-$on total assets, total liabilities, and total equity.

Total Assets Total Liabilities Total Equity

$$5,000$ cash dividend

$40\%$ stock dividend

$7-$for$-1$ stock split