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 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.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education