retained earnings

Reporting Stockholders' Equity Items on Statement of Cash Flows 0n the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash ows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $10 par ACCOUNT NO. Balance Balance, 40,000 shares 400,000 Apr. 10,000 shares issued for cash 100,000 500,000 June 30 2,000-share stock dividend 20,000 520,000 > ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT No. Balance Ba lance 160,000 Apr. 10,000 shares issued for cash 210,000 370,000 June 30 Stock dividend 15,000 385,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance check My Work ( Previous Next ) l ACCOUNT Retained Earnings ACCOUNT NO. Balance Balance 332,000 June Stock dividend 297,000 Dec. Cash dividend 258,800 Dec. Net income 239,000 497,800 If an amount is not reported on the statement of cash ows, enter in "0" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock Financing activities section ~/ Added J Cash dividend Financing activities section VI Deducted 4 Stock dividend Not reported on statement of cash flows ~/ Not applicable J Feedback $:] 35:] $ J V Check My Work Recall the journal entries that are made for each of the transactions listed. Does the journal entry affect cash? Is cash increasing or decreasing? Identify where each transaction would be reported on the statement of cash ows. Is the transaction dealing with the purchase or sale of a noncurrent asset? Is the transaction dealing with a change in a current operating asset or liability? 15 the transaction dealing with the issuance or payment of debt or equity? Check My Work ( Previous Next)