Question

Indicate the effect (+, –, or 0) on total stockholders’ equity of McKenzie Services Corporation for each of the following:
1. Declaration and issuance of a stock dividend on common stock
2. Sale of 100 shares of McKenzie Services by Jay Smith to Ray Fauley
3. Net earnings for the period of $600,000
4. Issuance of a stock dividend on common stock
5. Failing to declare a regular dividend on cumulative preferred stock
6. Declaration of a cash dividend of $50,000 in total
7. Payment of item 6
8. Purchase of 10 shares of treasury stock for $1,200 cash
9. Sale of treasury stock, purchased in item 8, for $1,400
10. Sale of treasury stock, purchased in item 8, for $1,000



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  • CreatedFebruary 20, 2015
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