A Corporation Reported Net Income of $60,000, Declared and Paid

question 87

Multiple Choice

A corporation reported net income of $60,000, declared and paid cash dividends of $80,000, and issued 3,000 shares of $2 par common stock at $15 per share during the year. What total effects would these transactions have on the following stockholders' equity accounts? Retained Earnings Common Stock

• A)increase increase
• B)increase decrease
• C)decrease decrease
• D)decrease increase

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Definitions:

Politically Constructed

A term referring to the idea that social and cultural categories, identities, and issues are shaped by political forces and ideologies rather than being natural or inherent.

Trans Fat

A type of unhealthy fat that is created by hydrogenating vegetable oil, found in various processed foods, and associated with increased risk of heart disease.

Foucault

Michel Foucault was a French philosopher and social theorist known for examining the ways in which society exercises power and control over individuals.

Disciplining

The process of enforcing rules or guidelines to correct or control behavior.