- Please State If They Increase Or Decreases In The Blanks Please 1 (56.31 KiB) Viewed 25 times
please.
Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 310 shares of preferred stock and 4,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,200 shares of common stock for $43 per share. 15 Purchase 410 shares of treasury stock for $36 per share. May July 10 Resell 210 shares of treasury stock purchased on May 15 for $41 per share. October 15 Issue 210 shares of preferred stock for $46 per share. December 1 Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $310; Common Stock, $41; Additional Paid-in Capital, $76,500; and Retained Earnings, $30,700. Net income for the year ended December 31, 2021, is $11,000. 2. Select whether each of the following transactions increases (+) or decreases (-) total assets, total liabilities, and total stockholders' equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders' Equity Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends