A10 Nautical has the following beginning balances in itsstockholders' equity accounts on January 1, 2024: PreferredStock, $1,000; Common Stock, $1,500; Additional Paid-inCapital, $18,000; and Retained Earnings, $10,000. Netincome for the year ended December 31, 2024, is $6,900.2. Select whether each of the following transactions increases (+) ordecreases (-) total assets, total liabilities, and total stockholders' equity. (Ifnone of the categories apply for a particular item, leave the cell blank.)TransactionIssue common stockIssue preferred stockDeclare cash dividendsPay cash dividendsPurchase treasury stockResell treasury stockTotalAssetsTotalLiabilitiesTotalStockholders'Equity

A shareholder may give the company cash or other assets in exchange for the par value of its stock…

Answered: -) total assets, total liabilities, and…

-) total assets, total liabilities, and total stockholders' equity. e categories apply for a particular item, leave the cell blank.

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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Question

A10

Nautical has the following beginning balances in its
stockholders' equity accounts on January 1, 2024: Preferred
Stock, $1,000; Common Stock, $1,500; Additional Paid-in
Capital, $18,000; and Retained Earnings, $10,000. Net
income for the year ended December 31, 2024, is $6,900.
2. Select whether each of the following transactions increases (+) or
decreases (-) total assets, total liabilities, and total stockholders' equity. (If
none of the categories apply for a particular item, leave the cell blank.)
Transaction
Issue common stock
Issue preferred stock
Declare cash dividends
Pay cash dividends
Purchase treasury stock
Resell treasury stock
Total
Assets
Total
Liabilities
Total
Stockholders'
Equity

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