Jan. 1 Balance 360,000 Apr. 2. 30,000 shares issued for cash 720,000 1,080,000 June 30 Stock dividend 114,400 1,194,400 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 2,000,000 June 30 Stock dividend 290,400 1,709,600 Dec. 30 Cash dividend 463,200 1,246,400 Dec. 31 Net income 1,440,000 2,686,400 If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock %24 Cash dividend %24 Stock dividend %$4
Jan. 1 Balance 360,000 Apr. 2. 30,000 shares issued for cash 720,000 1,080,000 June 30 Stock dividend 114,400 1,194,400 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 2,000,000 June 30 Stock dividend 290,400 1,709,600 Dec. 30 Cash dividend 463,200 1,246,400 Dec. 31 Net income 1,440,000 2,686,400 If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock %24 Cash dividend %24 Stock dividend %$4
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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