Homework Answers
Question 13:
Answer: They are paid to shareholders as dividends
Explanation:
They are borrowed: Receiving cash – Source of asset
They are contributed by shareholders: Receiving cash – Source of asset
They are paid to shareholders as dividends: Paying cash – Not a source of asset
They are generated by the company’s profitable operating activities: Getting revenues – Source of asset
Question 14:
Answer: Assets and shareholder’s Equity increased by $3,000
Explanation:
| Accounting equation | ||||
| Asset | = | Liabilities | + | Stockholder's Equity |
| Cash | = | + | Common stock | |
| $3,000 | = | + | $3,000 | |
Cash (Asset) increased by $3,000 and Common stock (Stockholder's Equity) increased by $3,00
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