Kettle Creek Corporation had the following transactions and events: 1. Declared a cash dividend. 2. Issued...
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Kettle Creek Corporation had the following transactions and events: 1. Declared a cash dividend. 2. Issued common shares for cash 3. Completed a 2-for-1 stock split of the common shares. 4. Declared a stock dividend on the common shares. 5. Distributed the stock dividend declared in (4). 6. Made a correction of a prior period error for an understatement of profit. 7. Repurchased common shares for less than their initial issue price. 8. Comprehensive income included profit and a gain reported as other comprehensive income Indicate the effect(s) of each of the above items on the subdivisions of shareholders' equity. Present your answer in tabular form with the following columns. Contributed Capital Item Share Capital 1 No Effect Additional No Effect Retained Earnings Decrease Accumulated Other Comprehensive Income No Effect Total Shareholders Equity Decrease Kettle Creek Corporation had the following transactions and events: 1. Declared a cash dividend. 2. Issued common shares for cash 3. Completed a 2-for-1 stock split of the common shares. 4. Declared a stock dividend on the common shares. 5. Distributed the stock dividend declared in (4). 6. Made a correction of a prior period error for an understatement of profit. 7. Repurchased common shares for less than their initial issue price. 8. Comprehensive income included profit and a gain reported as other comprehensive income Indicate the effect(s) of each of the above items on the subdivisions of shareholders' equity. Present your answer in tabular form with the following columns. Contributed Capital Item Share Capital 1 No Effect Additional No Effect Retained Earnings Decrease Accumulated Other Comprehensive Income No Effect Total Shareholders Equity Decrease
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