Accounting Analysis
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For each of the following numbered items, you are to select the lettered item(s) that indicates(s) its effect(s) on the corporation's statements. If more than one effect is applicable to a particular item, be sure to indicate all applicable letters. (Assume that the state statutes do not permit declaration of nonliquidating dividends except from earnings.)
Item Effect
1. Declaration of a cash dividend due in a. Reduces working capital
One month on noncumulative preferred stock
2. Declaration and payment of an b. Increases working capital
Ordinary stock dividend
3. Receipt of a cash dividend, not c. Reduces current ratio
Previously recorded, on stock of
another corporation
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For each of the following numbered items, you are to select the lettered item(s) that indicates(s) its effect(s) on the corporation's statements. If more than one effect is applicable to a particular item, be sure to indicate all ...
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