Niles Corporation completed the following selected transactions during the current year: Mar. 3 Distributed a...
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Accounting
Niles Corporation completed the following selected transactions during the current year: Mar. 3 Distributed a 10% stock dividend on the 90,000 common shares outstanding. The market price of the common shares was $25 per share. May 16 Declared a cash dividend on the $5 preferred shares (5,000 shares outstanding). 30 Paid the cash dividends. Dec. 8 Issued 1,500 common shares for $27 per share. 19 Issued 10,000 common shares for $28 per share. Requirement Analyze each transaction in terms of its effect (in dollars) on the accounting equation of Niles Corporation.
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