Question
On May 1, Year 3, Love Corporation declared a $43,600 cash dividend to be paid on May 31 to shareholders of record on May 15.
On May 1, Year 3, Love Corporation declared a $43,600 cash dividend to be paid on May 31 to shareholders of record on May 15.
Required
Record the events occurring on May 1 and May 31 in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign.)
| Date | Assests | = | Liabilities | + | Common Stock | + | Retained Earnings | Revenue | - | Expense | = | Net income | Statement of Cash Flow |
| May 1 | = | + | + | - | = | ||||||||
| May 31 | = | + | + | - | = |
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Loss Control Auditing A Guide For Conducting Fire Safety And Security Audits
Authors: E. Scott Dunlap
1st Edition
1439828865, 978-1439828861
