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Might have to CTRL + scroll in to zoom On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income,
Might have to CTRL + scroll in to zoom
On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $40 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 120,000 shares 4,800,000 Apr. 2 30,000 shares issued for cash 1,200,000 6,000,000 June 30 5% stock dividend 300,000 6,300,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit Credit Date Item Debit Credit Jan. Balance 1 Apr. 2 June 30 30,000 shares issued for cash Stock dividend 720,000 150,000 360,000 1,080,000 1,230,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 2,000,000 June 30 Stock dividend 450,000 1,550,000 Dec. 30 Cash dividend 315,000 1,235,000 Net income 1,000,000 2,235,000 If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Sale of common stock Financing activities section Added Cash dividend Financing activities section Deducted Stock dividend Not reported on statement of cash flows Not applicable AmountStep by Step Solution
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