[Please help me with the transactions from 2 to 7 and selecting whether its an i

Question

[Please help me with the transactions from 2 to 7 and selecting whether its an increase or decrease]

Problem 10-2A Record equity transactions and indicate the effect on the balance sheet equation The following information applies to the questions displayed below.J Donnie Hilfiger has two classes of stock authorized: S1 par preferred and $0.01 par value common. As of the beginning of 2015, 360 shares of preferred stock and 4,600 shares of common stock have been issued. The following transactions affect stockholcers' equity during 2015: May July 1 Issues 1,700 shares of common stock for $48 per share. 15 Repurchases 460 shares of treasury stock for $41 per share. 10 Reissues 260 shares of treasury stock purchased on May 15 for $46 per share Declares a cash dividend on both common and preferred stock of S1.10 per share to all stockholders of record on December 15. (Hint Divicends are not paid on treasury stock.) Pays the cash dividends declared on December 1. December December 31 Donnie Hilfiger has the following beginning balances in its stockholcers' equity accounts on January 1, 2015: Preferred Stock, $360; Common Stock, SA6; Additional Paid-in Capital, $79,000; and Retained Earnings, $31,700. Net income for the year ended December 31, 2015, is $12,000.

Explanation / Answer

total asset total liabilties stock holder equity

issue common stock + +

repurchase treasury stock - -

reissuse treasury stock + +

declare cash divident + -

pay cash dividend - -

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