Hortel, Inc., had the following transactions during 2X03, its first year of operations. Common Stock, Additional Paid-in Capital, Retained Earnings ,Dividend Payable, Cash .

1. Hortel issued 2,500 shares above par for cash

2. Hortel declared dividends

3. The date of record for dividends

4. Hortel paid dividends

5. Hortel authorized 800 additional shares

Required:

For each transaction, determine the effect each transaction had on the various stockholders' equity accounts by placing a plus sign (+) for an increase in the respective account, a minus sign (-) for a decrease in the respective account, or an X in each column if there is no effect on the account.