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Saint Leo MBA 560 homework 4




Question;LO 10 Problem 7-30Multistep income statement and classified;balance sheet (Edmonds. Survey of;Accounting. 2012);Required;Use the following information to prepare a multistep income;statement and a classified balance sheet;for Douglas Company for 2012.Hint: Some of the items willnot appear on either statement, and;ending retained earnings must be;calculated.) (Edmonds. Survey of;Accounting. 2012);?;Problem;8-24;LO 4-8;Problem 8-24Effects of equity transactions on financial statements;The;following events were experienced by Abbot Inc.;1. Issued;cumulative preferred stock for cash.;2. Issued;common stock for cash.;3. Distributed;a 2-for-1 stock split on the common stock.;4. Issued;noncumulative preferred stock for cash.;5.;Appropriated retained earnings.;6. Sold;treasury stock for an amount of cash that was more than the cost;of the treasury stock.;7.;Distributed a stock dividend.;8. Paid cash;to purchase treasury stock. (Edmonds.;Survey of Accounting. 2012);9. Declared a cash dividend.;10. Paid the cash dividend declared in Event 9.;Required;Show the effect of each event on the elements of the;financial statements using a horizontal;statements model like the following one. Use + for increase,? for decrease, and NA for not affected. In the;Cash Flow column, indicate whether the;item is an operating activity (OA), investing activity (IA), or financing activity (FA). The first transaction;is entered as an example. (Edmonds.;Survey of Accounting. 2012


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