Refer to the data in QS 12-6. 1. Assume that all common stock is issued for cash.

Question:

Refer to the data in QS 12-6.
1. Assume that all is issued for cash. What amount of cash dividends is paid during 2009?
2. Assume that no additional notes payable are issued in 2009. What cash amount is paid to reduce the notes payable balance in 2009?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...