Indicate the effects of the above transactions on net income, retained earnings, and total…

Effect of selected transactions on net income and shareholders equity

Net Income

Retained
earnings

Total shareholders
equity

a. A stock dividend is declared and paid

b. Merchandise is purchased on credit

c. Marketable securities are sold above cost

d. Accounts receivable are collected

e. A cash dividend is declared and paid

F. Treasury stock is purchased and recorded at cost

g. Treasury stock is sold above cost
h. Common stock is sold

i. A machine is sold for less than book value

I. Bonds are converted into common stock

Required

Indicate the effects of the above transactions on net income, retained earnings, and total shareholders equity. Use + to indicate an increase and – to indicate a decrease, and 0 to indicate no effect.

 

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