the following events were experienced by Abbott Inc.:
1. Issued cumulative preferred stock for cash.
2. Issued common stock for cash. 3. Distributed a 2 for 1 stock split on the common stock.
4. Issued noncumulative preferred stock for cash.
5. Appropriated retained earnings.
6. Sold treasury stock for an amount of cash that was more than the cost of the treasury stock.
7. Distributed stock dividends.
8. Paid cash to purchase treasury stock.
9. Declared a cash dividend.
10. Paid the cash dividend declared in Event 9.
Show the effect of each event on the elements of the financial statements using a horizontal statments model like the following one. Use + for increase and – for decrease, and NA for not affected. In the cash flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). The first transaction is entered as an example.
Event No. 1, Assets +, =, Liab NA, +, Equit +, Rev NA, -, Exp NA, =, Net Inc NA, Cash Flow +FA.
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.[order_calculator]