eBook Question Content Area 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. ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 40,000 shares 600,000 Apr. 2 10,000 shares issued for cash 150,000 750,000 June 30 2,000-share stock dividend 30,000 780,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 160,000 Apr. 2 10,000 shares issued for cash 240,000 400,000 June 30 Stock dividend 22,500 422,500 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 498,000 June 30 Stock dividend 52,500 445,500 Dec. 30 Cash dividend 57,300 388,200 Dec. 31 Net income 358,600 746,800 If an amount is not reported on the statement of cash flows, leave the amount box blank. Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock $fill in the blank 3 Cash dividend $fill in the blank 6 Stock dividend $fill in the blank 9
eBook Question Content Area 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. ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 40,000 shares 600,000 Apr. 2 10,000 shares issued for cash 150,000 750,000 June 30 2,000-share stock dividend 30,000 780,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 160,000 Apr. 2 10,000 shares issued for cash 240,000 400,000 June 30 Stock dividend 22,500 422,500 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 498,000 June 30 Stock dividend 52,500 445,500 Dec. 30 Cash dividend 57,300 388,200 Dec. 31 Net income 358,600 746,800 If an amount is not reported on the statement of cash flows, leave the amount box blank. Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock $fill in the blank 3 Cash dividend $fill in the blank 6 Stock dividend $fill in the blank 9
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question Content Area
Reporting
Stockholders' Equity Items on Statement ofCash 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.
ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 40,000 shares 600,000 Apr. 2 10,000 shares issued for cash 150,000 750,000 June 30 2,000-share stock dividend 30,000 780,000
ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 160,000 Apr. 2 10,000 shares issued for cash 240,000 400,000 June 30 Stock dividend 22,500 422,500
ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 498,000 June 30 Stock dividend 52,500 445,500 Dec. 30 Cash dividend 57,300 388,200 Dec. 31 Net income 358,600 746,800 If an amount is not reported on the statement of cash flows, leave the amount box blank.
Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock $fill in the blank 3 Cash dividend $fill in the blank 6 Stock dividend $fill in the blank 9
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