A Sequence of Events Affecting the Shareholders' Equity Section of Malabar

question 74

Essay

A sequence of events affecting the shareholders' equity section of Malabar Corporation follows:
A. On January 21, 8,000 shares of $10 par value common stock were issued for $160,000.
B. On May 16, a 3-for-1 stock split was distributed.
C. On December 23, $8,000 of cash dividends on outstanding common stock were declared. The dividends will be paid in 30 days.
For each entry, state how the event changed assets, liabilities, and shareholders' equity.

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