Carlton Industries Has Identified the Following Items and Would Like

question 115

Multiple Choice

Carlton Industries has identified the following items and would like you to answer a few questions about their effect on Stockholders' Equity.
-Which item decreases Retained Earnings and also credits a payable (liability) ?

• A)Preferred stock issued by Carlton
• B)Amount received by Carlton in excess of par value when preferred stock was issued
• C)Dividends in arrears on Carlton preferred stock
• D)Cash dividend declared but unpaid on Carlton stock
• E)Stock dividend declared but unissued by Carlton
• F)Treasury stock
• G)Amount received in excess of cost when treasury stock is reissued by MJ
• H)Retained earnings

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