Use the information below to answer the following question(s):Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. Use only one letter for each element. You do not need to enter amounts.Increase = I Decrease = D No Effect = NA(Note that "No Effect" means that the event does not affect that element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) Fort Worth Co. declared a cash dividend but has not yet paid the money to the shareholders.
What will be an ideal response?
(NA) (I) (D) (NA) (NA) (NA) (NA)
Declaring a cash dividend increases liabilities (dividends payable) and decreases stockholders' equity by increasing dividends. Declaring a cash dividend has no effect on the statement of cash flows.
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