Milo Corporation completed the following selected transactions during the current year (Click the icon to...
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Accounting
Milo Corporation completed the following selected transactions during the current year (Click the icon to view the transactions.) Requirement Analyze each transaction in terms of its effect (in dollars) on the accounting equation of Milo Corporation. Analyze each transaction in terms of its effect on the accounting equation of Milo Corporation. (Use parentheses or a minus sign when subtracting numbers or when entering negative amounts. Enter an amount in each input cell using a zero for the portion of the accounting equation not affected by the transaction.) Assets = Liabilities + Equity Mar 3 May 16 May 30 Dec 8 Dec 19 Mar May Dec 3 Distributed a 13% stock dividend on the 90,000 common shares outstanding. The market price of the common shares was $27 per share. 16 Declared a cash dividend on the $6 preferred shares (1,700 shares outstanding) 30 Paid the cash dividends. 8 Issued 2,600 common shares for $32 per share. 19 Issued 19,000 common shares for $30 per share
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