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Retained Earnings
Stockholders
Description Account Titles Net Common Retained Equity
Dividends
Income Stock Earnings
Cash
Issuance of stock to
investors (owners)
Common Stock
MJC 2017 1
Effects of Basic Tranactions on Retained Earnings Statement and Stockholder Equity
Retained Earnings
Description Stockholders
Account Titles Net Common Retained Equity
Dividends
Income Stock Earnings
Recording of monthly Telephone
expenses on account Expense
(credit) Bills accrued at
months end Accoun
Accounts Payable t Titles
The purchase and Prepaid
prepayment of an asset Insurance
with cash before it is
used by the company.
I.e. Insurance, rent, or Cash
supplies.
MJC 2017 2