Shareholders equity accounts are affected by a number of transactions and events, and, in many instances, there will be more than one account affected for one transaction or event. For the following list of transactions and events, indicate from the drop-down menus which shareholders equity account(s) will be affected, and how they will be affected (Increased, Decreased, or Not Applicable). If the transaction or event does not affect a shareholders equity account, indicate that by selecting "Not Applicable." Where required, space is provided to record more than one account for an event or transaction.

		Transaction/Event		Account(s)		Affect
1.		Dividends are declared on $4-noncumulative preferred shares.
2.		A common stock dividend is distributed.
3.		Preferred shares are reacquired at a cost that is less than the average per share amount.
4.		There was a loss from a discontinued operation.
5.		It was discovered that the previous year's cost of goods sold was understated by $1,000.
6.		Common shares are issued in exchange for land.
7.		A portion of dividends payable is paid with cash.
8.		There was a 2-for-1 stock split on the common shares.
9.		Common shares are reacquired at a cost that is above the average per share amount. There is no balance in the contributed surplus account.
10.		A manufacturing company had a gain on investment classified as other comprehensive income.
11.		Cash dividend are paid.
12.		Preferred shares are issued for cash.
13.		A 10% common stock dividend is declared.
14.		The estimated life of a piece of equipment was changed from 8 years to 12 years.
15.		Common shares are reacquired at a cost that is above the average per share amount. The balance in the contributed surplus account will cover the difference in cost.

Accounts option:

Accumulated other comprehensive income

Retained earnings

Common shares

preferred shares

Stock dividend distributable

Not applicable

Contributed surplus

Affect:

Not applicable

increased

decreased