Several transactions occurred for Shadow Dreams Corporation during 2015. Indicate the effect each item has directly on retained earnings by writing the amount in the space provided. Place a + plus sign in front of the amount if the item increases retained earnings, or parentheses around the amount if the item decreases retained earnings. Place an X in the blank for items that have no direct effect on retained earnings. Items that affect the income statement do not directly affect retained earnings.

Question

Quizplus · Accepted Answer

The Answer of Several transactions occurred for Shadow Dreams Corporation during 2015. Indicate the effect each item has directly on retained earnings by writing the amount in the space provided. Place a + plus sign in front of the amount if the item increases retained earnings, or parentheses around the amount if the item decreases retained earnings. Place an X in the blank for items that have no direct effect on retained earnings. Items that affect the income statement do not directly affect retained earnings.

Several Transactions Occurred for Shadow Dreams Corporation During 2015