Indicate the effect, if any, of each of the following transactions on total Retained Earnings of Little Red Caboose, Inc a Paid accounts payable b Wrote off Accounts Receivable against Allowance for Doubtful Accounts c Bought equipment on account, $ 58,000 d The board of directors declared a 20 per...

a No effect on retained earnings b No effect o ...

Indicate the effect, if any, of each of the following transactions on total Retained Earnings of Little

Question:

Indicate the effect, if any, of each of the following transactions on total Retained Earnings of Little Red Caboose, Inc.:
a. Paid accounts payable.
b. Wrote off against Allowance for Doubtful Accounts.
c. Bought equipment on account, $ 58,000.
d. The board of directors declared a 20 percent stock to be issued 30 days from the present date.
e. The board of directors voted to appropriate $ 98,000 for future expansion.
f. Issued 2,500 shares of $ 25 par- value common stock, receiving $ 34 per share.
g. Issued the stock declared in transaction (d).

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...