Matching
Match each transaction to its accounting effects
Premises:
Treasury stock is resold at more than cost
Operating loss for the period
Declaration of a stock dividend
Acquisition of machinery for common stock
Declaration of cash dividend
Payment of cash dividend previously recorded
Responses:
Decrease in total shareholders’ equity
Increase in total shareholders’ equity
Does not change total shareholders’ equity
Correct Answer:
Premises:
Responses:
Treasury stock is resold at more than cost
Operating loss for the period
Declaration of a stock dividend
Acquisition of machinery for common stock
Declaration of cash dividend
Payment of cash dividend previously recorded
Premises:
Treasury stock is resold at more than cost
Operating loss for the period
Declaration of a stock dividend
Acquisition of machinery for common stock
Declaration of cash dividend
Payment of cash dividend previously recorded
Responses:
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