. 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, $20 parACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.1Balance, 55,000 shares1,100,000Apr.213,750 shares issued for cash275,0001,375,000June 302,000-share stock dividend40,0001,415,000ACCOUNT Paid-In Capital in Excess of Par-Common StockACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.Balance220,000Apr.213,750 shares issued for cash385,000605,000June 30Stock dividend30,000635,000ACCOUNT Retained EarningsACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.1Balance913,000June30Stock dividend70,000843,000Dec.30Cash dividend105,000738,000Dec.31Net income657,4001,395,400If an amount is not reported on the statement of cash flows, leave the amount box blank.ItemSection of Statement of Cash FlowsAdded or DeductedAmountSale of common stockCash dividendStock dividend

Cash flow statement is a statement which shows all cash inflows and cash outflows of the business…

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, $20 par ACCOUNT No. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 55,000 shares 1,100,000 Apr. 2 13,750 shares issued for cash 275,000 1,375,000 June 30 2,000-share stock dividend 1,415,000 40,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 220,000 Apr. 2 13,750 shares issued for cash 385,000 605,000 June 30 Stock dividend 30,000 635,000 ACCOUNT Retained Earnings ACCOUNT No. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 913,000 June 30 Stock dividend 70,000 843,000 Dec. 30 Cash dividend 105,000 738,000 Dec. 31 Net income 657,400 1,395,400 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 Cash dividend Stock dividend

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, $20 par ACCOUNT No. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 55,000 shares 1,100,000 Apr. 2 13,750 shares issued for cash 275,000 1,375,000 June 30 2,000-share stock dividend 1,415,000 40,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 220,000 Apr. 2 13,750 shares issued for cash 385,000 605,000 June 30 Stock dividend 30,000 635,000 ACCOUNT Retained Earnings ACCOUNT No. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 913,000 June 30 Stock dividend 70,000 843,000 Dec. 30 Cash dividend 105,000 738,000 Dec. 31 Net income 657,400 1,395,400 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 Cash dividend Stock dividend

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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Concept explainers

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.

Question

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, $20 par
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance, 55,000 shares
1,100,000
Apr.
2
13,750 shares issued for cash
275,000
1,375,000
June 30
2,000-share stock dividend
40,000
1,415,000
ACCOUNT Paid-In Capital in Excess of Par-Common Stock
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
Balance
220,000
Apr.
2
13,750 shares issued for cash
385,000
605,000
June 30
Stock dividend
30,000
635,000
ACCOUNT Retained Earnings
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
913,000
June
30
Stock dividend
70,000
843,000
Dec.
30
Cash dividend
105,000
738,000
Dec.
31
Net income
657,400
1,395,400
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
Cash dividend
Stock dividend

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