ACCOUNT Common Stock, $40 par ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance, 120,000 shares 30,000 shares issued for cash 4,400-share stock dividend 4,800,000 Jan. Apr. 1,200,000 176,000 6,000,000 6,176,000 June 30 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Credit Debit Debit Credit Date Item Balance Jan. 360,000 30,000 shares issued for cash 720,000 1,080,000 Apr. 2 Stock dividend June 30 114,400 1,194,400 ACCOUNT Retained Earnings ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance 2,000,000 Jan. 1,709,560 1,246,360 2,686,360 Stock dividend June 30 290,440 Cash dividend 463,200 Dec. 30 31 Net income 1,440,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.

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ACCOUNT Common Stock, $40 par
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance, 120,000 shares
30,000 shares issued for cash
4,400-share stock dividend
4,800,000
Jan.
Apr.
1,200,000
176,000
6,000,000
6,176,000
June
30
Transcribed Image Text:ACCOUNT Common Stock, $40 par ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance, 120,000 shares 30,000 shares issued for cash 4,400-share stock dividend 4,800,000 Jan. Apr. 1,200,000 176,000 6,000,000 6,176,000 June 30
ACCOUNT Paid-In Capital in Excess of Par-Common Stock
ACCOUNT NO.
Balance
Credit
Debit
Debit
Credit
Date
Item
Balance
Jan.
360,000
30,000 shares issued for cash
720,000
1,080,000
Apr.
2
Stock dividend
June
30
114,400
1,194,400
ACCOUNT Retained Earnings
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance
2,000,000
Jan.
1,709,560
1,246,360
2,686,360
Stock dividend
June
30
290,440
Cash dividend
463,200
Dec.
30
31
Net income
1,440,000
Transcribed Image Text:ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Credit Debit Debit Credit Date Item Balance Jan. 360,000 30,000 shares issued for cash 720,000 1,080,000 Apr. 2 Stock dividend June 30 114,400 1,194,400 ACCOUNT Retained Earnings ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance 2,000,000 Jan. 1,709,560 1,246,360 2,686,360 Stock dividend June 30 290,440 Cash dividend 463,200 Dec. 30 31 Net income 1,440,000
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