Declared a $8/shr. Cash Dividend on the 1,000 shrs. of Pref. Sk. and $10/shr. On 10,000 shrs. of common stock.O Increase the liability dividends payable and decrease the stockholders' equity retained earnings $108,000O Increase the liability dividends payable and decrease the stockholders' equity retained earnings $100,000Decrease the asset cash and the stockholders' equity retained earnings $108,000Decrease the liability dividends payable and Increase the stockholders' equity retained earnings $108,000QUESTION 50Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change,and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances.Paid cash to reacquire 1,000 shrs. of common stock for $30/shr.O Decreased the asset cash $30,000, the stockholders' equity accounts common stock $5,000 and additional paid in capital-common $25,000.O Decreased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.Decreased the asset cash $30,000, and increased the stockholders' equity account treasury stock thereby decreasing total stockholders' equity $30,000.O Increased the asset cash $30,000, the stockholders' equity account treasury stock $30,000.

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Declared a $8/shr. Cash Dividend on the 1,000 shrs. of Pref. Sk. and $10/shr. On 10,000 shrs. of common stock. O Increase the liability dividends payable and decrease the stockholders' equity retained earnings $108,000 Increase the liability dividends payable and decrease the stockholders' equity retained earnings $100,000 O Decrease the asset cash and the stockholders' equity retained earnings $108,000 O Decrease the liability dividends payable and Increase the stockholders' equity retained earnings $108,000

Declared a $8/shr. Cash Dividend on the 1,000 shrs. of Pref. Sk. and $10/shr. On 10,000 shrs. of common stock. O Increase the liability dividends payable and decrease the stockholders' equity retained earnings $108,000 Increase the liability dividends payable and decrease the stockholders' equity retained earnings $100,000 O Decrease the asset cash and the stockholders' equity retained earnings $108,000 O Decrease the liability dividends payable and Increase the stockholders' equity retained earnings $108,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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