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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. ACCOUNT Common Stock, $40 par ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance, 120,000 shares         4,800,000   Apr. 2     30,000 shares issued for cash     1,200,000       6,000,000   June 30     4,400-share stock dividend   176,000       6,176,000   ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit 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.

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, $40 par ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance, 120,000 shares         4,800,000   Apr. 2     30,000 shares issued for cash     1,200,000       6,000,000   June 30     4,400-share stock dividend   176,000       6,176,000   ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit 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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.

ACCOUNT Common Stock, $40 par ACCOUNT NO.
        Balance
Date Item Debit Credit Debit Credit
Jan. 1     Balance, 120,000 shares         4,800,000  
Apr. 2     30,000 shares issued for cash     1,200,000       6,000,000  
June 30     4,400-share stock dividend   176,000       6,176,000  



ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO.
        Balance
Date Item Debit Credit Debit Credit
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.

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