Several transactions occurred for Shadow Dreams Corporation during 2015. Indicate the effect each item has directly on retained earnings by writing the amount in the space provided. Place a + plus sign in front of the amount if the item increases retained earnings, or parentheses around the amount if the item decreases retained earnings. Place an X in the blank for items that have no direct effect on retained earnings. Items that affect the income statement do not directly affect retained earnings.
Definitions:
Accident Forgiveness
An auto insurance feature that protects the insured from a rate increase following the first at-fault accident they cause.
Risky Driving
Driving behavior that increases the likelihood of an accident or harm, such as speeding, driving under the influence of alcohol or drugs, or not obeying traffic signals.
Safe Drivers
Individuals who exhibit behaviors and practices that significantly reduce the likelihood of being involved in accidents or receiving traffic citations.
Information Asymmetry
A situation where one party in a transaction has more or superior information compared to another. This can cause market inefficiencies and power imbalances.
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