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 Accounts Receivable against Allowance for Doubtful Accounts.
c. Bought equipment on account, $ 58,000.
d. The board of directors declared a 20 percent stock dividend 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 dividend declared in transaction (d).



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  • CreatedOctober 21, 2014
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