Mark each transaction category with + for increase - for decrease or n/a for no

Question

Mark each transaction category with + for increase - for decrease or n/a for no effect

Net Profit Retained Earnings Total Stockholders equity A stock dividend is declared and paid. Merchandise is purchased on credit. Marketable securities are sold above cost. Accounts receivable are collected. A cash dividend is declared and paid. Treasury stock is purchased and recorded at cost. Treasury stock is sold above cost. Common stock is sold. A fixed asset is sold for less than book value. Bonds are converted into common stock.

Explanation / Answer

Net profit Retained Earnings Total Stockholders equity A stock dividend is declared and paid decrease decrase increase Merchandise is purchased on credit decrease no effect no effect Marketable securities are sold above cost increase no effect no effect accounts receivable are collected no effect no effect no effect A cash dividend is declared and paid decrease decrease increase Treasury stock is purchased and recorded at cost no effect increase increase Treasury stock is sold adove cost no effect decrease decrease Common stock is sold no effect decrease decrease A fixed asset is sold for less than book value increase no effect no effect bonds are convewrted into common stock no effect increase increase

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