Use I = Increase, D = Decrease, or N = No effect, to indicate the effect on retained earnings for each of the listed transactions.

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D

A net loss for the year

D

A stock split effected in the form of a stock dividend

N

A stock split in which the par per share is reduced (but not effected in the form of stock dividend)

D

Declaration of a 5% stock dividend

D

Declaration of a cash dividend

D

Declaration of a property dividend

N

Issue common stock

N

Issue of stock for non cash assets

I

Net income for the year

N

Payment of previously declared cash dividend

N

Purchase of treasury stock at a cost greater than the original issue price

N

Purchase of treasury stock at a cost less than the original issue price

D

Resale of treasury stock for less than carrying value assuming no previous treasury stock sales

N

Resale of treasury stock for more than cost

D

Reseal of treasury stock for less than cost, assuming no previous treasury stock sales

D

Retirement of common stock at a cost greater than the original issue price

N

Retirement of common stock at a cost less than the original issue price


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