Solved

Match Each Item/event Pair Below with the Indicated Change in the Item

Question 147

Matching

Match each item/event pair below with the indicated change in the item. An individual classification may be used more than once, or not at all. For each dividend, assume that both declaration and payment or distribution has occurred.

Item   Event

Premises:
Par value per common share   Cash dividend
Book value per share   Stock dividend
Total retained earnings   Stock split
Total stockholders' equity   Prior period adjustment increases last year's net income
Earnings per common share   Restriction of retained earnings
Total retained earnings   Change in accounting principle
Number of common shares outstanding   Stock dividend
Total retained earnings   Cash dividend
Par value per common share   Stock dividend
Total paid-in capital   Stock dividend
Responses:
Item increases
Item decreases
Item is unchanged
Direction of change cannot be determined

Correct Answer:

Par value per common share   Cash dividend
Book value per share   Stock dividend
Total retained earnings   Stock split
Total stockholders' equity   Prior period adjustment increases last year's net income
Earnings per common share   Restriction of retained earnings
Total retained earnings   Change in accounting principle
Number of common shares outstanding   Stock dividend
Total retained earnings   Cash dividend
Par value per common share   Stock dividend
Total paid-in capital   Stock dividend
Related Questions

Q140: Selected account balances for Billings Company

Q141: You are a supervisor in the accounting

Q142: Saira Ortiz has been a manager at

Q143: Maggie Mize operates a small business and

Q144: When do companies normally post to (1)

Q145: At the end of the month the

Q146: Why would special journals used in different

Q148: Match the items below

Q149: Poole Company maintains four special journals and

Q150: Match the statement that has best description

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents