The following information was taken from Oregon Corporations accounting records for 2019: Proceeds from issuance of preferred
Question:
The following information was taken from Oregon Corporation’s accounting records for 2019:
Proceeds from issuance of preferred stock .................................$4,000,000
Dividends paid on preferred stock .....................................................400,000
Bonds payable converted to common stock ..................................2,000,000
Payment for purchase of machinery ..................................................500,000
Proceeds from sale of plant building ...............................................1,200,000
2% stock dividend on common stock .................................................300,000
Gain on sale of plant building ..............................................................200,000
Oregon’s statement of cash flows for the year ended December 31, 2019, should show the following amounts for investing and financing activities, based on the preceding information:
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... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
