A Corporation Reported Net Income of $60,000, Declared and Paid

Question 137

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A corporation reported net income of $60,000, declared and paid cash dividends of $80,000, and issued 3,000 shares of $2 par common stock at $15 per share during the year. What total effects would these transactions have on the following stockholders' equity accounts? A corporation reported net income of $60,000, declared and paid cash dividends of $80,000, and issued 3,000 shares of $2 par common stock at $15 per share during the year. What total effects would these transactions have on the following stockholders' equity accounts?

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