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q15 Milford Corporation had the following transactions and events: Indicate whether each of the below transactions would increase, decrease, or have no effect on assets,
q15
Milford Corporation had the following transactions and events: Indicate whether each of the below transactions would increase, decrease, or have no effect on assets, liabilities, and key categories within shareholders equity.
Shareholders Equity | |||||||||||||||
Assets | Liabilities | Share Capital | Retained Earnings | Accumulated Other Comprehensive Income | Total Shareholders Equity | ||||||||||
(1) | Issued preferred shares for cash. | ||||||||||||||
(2) | Declared a cash dividend on the preferred shares. | ||||||||||||||
(3) | Paid the cash dividend declared in transaction (2). | ||||||||||||||
(4) | Issued common shares for cash. | ||||||||||||||
(5) | Issued common shares for a noncash exchange of assets. | ||||||||||||||
(6) | Completed a 2-for-1 stock split of the common shares. | ||||||||||||||
(7) | Declared a stock dividend on the common shares. | ||||||||||||||
(8) | Distributed the stock dividend declared in transaction (7). | ||||||||||||||
(9) | Restricted retained earnings. | ||||||||||||||
(10) | Reported other comprehensive income from an unrealized gain on investments. | |
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