Show impact of accounting equation for the following transactions: A=L +SE 1.Paid previously declared cash dividend...
Show impact of accounting equation for the following transactions: A=L +SE
1.Paid previously declared cash dividend
2. Issued stock dividend
3. accrued interest expense
4. sold merch on account
5.Payment on A/P
6. Collected on A/R
7. Wrote off an collectible account
8 Declared a cash dividend
9 Purchased treasury stock
Homework Answers
Solution:
| S. No. | Transaction | Assets | = | Liabilities | + | Stockholder's Equity |
| 1 | Paid previously declared cash dividend | Decrease | = | Decrease | + | No Effect |
| 2 | Issued stock dividend | No Effect | = | No Effect | + | No Effect |
| 3 | accrued interest expense | No Effect | = | Increase | + | Decrease |
| 4 | sold merch on account | Increase | = | No Effect | + | Increase |
| 5 | Payment on A/P | Decrease | = | Decrease | + | No Effect |
| 6 | Collected on A/R | No Effect | = | No Effect | + | No Effect |
| 7 | Wrote off an collectible account | Decrease | = | No Effect | + | Decrease |
| 8 | Declared a cash dividend | No Effect | = | Increase | + | Decrease |
| 9 | Purchased treasury stock | Decrease | = | No Effect | + | Decrease |
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Show impact of accounting equation for the following
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