Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need to know Section of Statement of Cash Flows ,Added or Deducted,Amount of Sale of common stock,Cash dividend,and Stock dividend BooK Reporting Stockholders Equity Items

image text in transcribedimage text in transcribedneed to know Section of Statement of Cash Flows ,Added or Deducted,Amount of Sale of common stock,Cash dividend,and Stock dividend

BooK Reporting Stockholders Equity Items on Statement of Cash Flows 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, $20 par ACCOUNT NO Balance De bit Credit Debit Date Jan.1 Apr. 12,500 shares issued for cash June30 2,000-share stock dividend Item Credit 1,000,000 1,250,000 1,290,000 Balance, 50,000 shares 250,000 40,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit Date Jan.1 Apr. 12,500 shares issued for cash June 30 Stock dividend Item Credit Credit 100,000 450,000 480,000 Balance 350,000 30,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Item Debit Credit Debit Date Jan1 June30 Dec30 Dec. 31 Credit Balance Stock dividend Cash dividend Net income 830,000 760,000 664,500 1,262,100 70,000 95,500 597,600 If an amount is not reported on the statement of cash flows, enter in "O" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

12th edition

1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411

More Books

Students also viewed these Accounting questions

Question

3. Go slowly and avoid a domineering attitude.

Answered: 1 week ago

Question

Persuasive Speaking Organizing Patterns in Persuasive Speaking?

Answered: 1 week ago