During 2020, Roblez Corporation had the following transactions and events.1. Declared a cash dividend.2. Issued par value common stock for cash at par value.3. Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock.4. Declared a small stock dividend when the market price was higher than par value.5. Made a prior period adjustment for overstatement of net income.6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above.7. Paid the cash dividend in item no. 1 above.8. Issued par value common stock for cash above par value.Indicate the effect(s) of each of the foregoing items on the subdivisions of stockholders’ equity. Paid-in Capital Item Capital Stock Additional Retained Earnings1. No Effect No Effect Decrease2. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect3. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect4. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect5. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect6. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect7. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect8. IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect IncreaseDecreaseNo Effect

Stockholders' equity is the assets amount remaining in the business after all the liabilities have been settled. It involves retained earnings, common stock, paid in capital and treasury stock. Paid in Capital Item Capital Stock Additional Retained Earnings 1. No Effect No Effect Decrease 2. Increase No Effect No Effect 3. No Effect No Effect No Effect 4. Increase Increase Decrease 5. No Effect No Effect Decrease 6. No Effect No Effect No Effect 7. No Effect No Effect No Effect 8. Increase Increase No Effect

Answered: During 2020, Roblez Corporation had the…

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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During 2020, Roblez Corporation had the following transactions and events.

1.		Declared a cash dividend.
2.		Issued par value common stock for cash at par value.
3.		Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock.
4.		Declared a small stock dividend when the market price was higher than par value.
5.		Made a prior period adjustment for overstatement of net income.
6.		Issued the shares of common stock required by the stock dividend declaration in item no. 4 above.
7.		Paid the cash dividend in item no. 1 above.
8.		Issued par value common stock for cash above par value.

Indicate the effect(s) of each of the foregoing items on the subdivisions of stockholders’ equity.

	Paid-in Capital
Item	Capital Stock	Additional	Retained Earnings
1.	No Effect	No Effect	Decrease
2.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
3.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
4.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
5.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
6.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
7.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect
8.	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect	IncreaseDecreaseNo Effect

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