ACCOUNT Common Stock, 540 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 2 30,000 shares issued for cash 4,800,000 6,000,000 Jan. Balance, 120,000 shares Apr. 1,200,000 June 30 5% stock dividend 300,000 6,300,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Balance 360,000 1,080,000 Jan. 2 30,000 shares issued for cash 30 Stock dividend Apr. 720,000 June 150,000 1,230,000 ACCOUNT Retained Earmings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 2,000,000 1,550,000 1,235,000 June 30 Stock dividend 450,000 315,000 Dec. 30 Cash dividend 31 Net income 1,000,000 2,235,000
ACCOUNT Common Stock, 540 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 2 30,000 shares issued for cash 4,800,000 6,000,000 Jan. Balance, 120,000 shares Apr. 1,200,000 June 30 5% stock dividend 300,000 6,300,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Balance 360,000 1,080,000 Jan. 2 30,000 shares issued for cash 30 Stock dividend Apr. 720,000 June 150,000 1,230,000 ACCOUNT Retained Earmings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 2,000,000 1,550,000 1,235,000 June 30 Stock dividend 450,000 315,000 Dec. 30 Cash dividend 31 Net income 1,000,000 2,235,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Reporting
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.
Transcribed Image Text:ACCOUNT Common Stock, 540 par
ACCOUNT NO.
Balance
Date
Item
Debit Credit
Debit
Credit
1
2 30,000 shares issued for cash
4,800,000
6,000,000
Jan.
Balance, 120,000 shares
Apr.
1,200,000
June
30 5% stock dividend
300,000
6,300,000
ACCOUNT Paid-in Capital in Excess of Par-Common Stock
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Balance
360,000
1,080,000
Jan.
2 30,000 shares issued for cash
30 Stock dividend
Apr.
720,000
June
150,000
1,230,000
ACCOUNT Retained Earmings
ACCOUNT NO.
Balance
Date
Item
Debit Credit
Debit
Credit
Jan.
Balance
2,000,000
1,550,000
1,235,000
June
30
Stock dividend
450,000
315,000
Dec.
30
Cash dividend
31
Net income
1,000,000
2,235,000
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