How does the declaration of a liquidating dividend affect the following? O REA Retained Cash Earnings Account Decrease Decrease Increase No Effect No Effect Decrease Increase Increase Decreased wit Which item would be most likely to result in a decrease in Retained Earnings?
Retained Cash Earnings Account Assignment
a) b) c) Sale of Treasury stock above cost.X Conversion of Convertible Bonds. X Liquidating dividends distribution. Conversion of Preferred Stock. 30% Stock dividend declared. (35% Stock dividend (Total Market Value $1,500, Par Value $1,000) Record the transaction.
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