Reporting the Effects of Transactions
Five events pertaining to Lubbock Manufacturing Co. are described below.
a. Declared and paid a cash dividend.
b. Issued a 10 percent stock dividend.
c. Issued a 2-for-1 stock split.
d. Purchased treasury stock.
e. Reissued the treasury stock at a price greater than the purchase price.
Indicate the immediate effects of the events on the financial measurements in the four columnar headings listed below. Use the code letters I for increase, D for decrease, and NE for no effect.
Event | Current Assets | Stockholders’ Equity | Net Income | Net Cash Flow (from any source) |
| a |
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