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. 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. If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 4MC: The retirement of long-term debt by the issuance of common stock should be presented in a statement...
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Reporting
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.
If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.
![ACCOUNT Common Stock, $40 par
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance, 120,000 shares
4,800,000
Apг.
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
HETE
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
360,000
Apг.
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6514224-27d1-4c3e-9bc7-e4729811b04e%2Fe5e600cb-1a01-43a7-8922-060acca79971%2F29iv1k_processed.png&w=3840&q=75)
Transcribed Image Text:ACCOUNT Common Stock, $40 par
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance, 120,000 shares
4,800,000
Apг.
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
HETE
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
360,000
Apг.
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
![Item
Section of Statement of Cash Flows
Added or Deducted
Amount
Sale of common stock
Cash dividend
Stock dividend](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa6514224-27d1-4c3e-9bc7-e4729811b04e%2Fe5e600cb-1a01-43a7-8922-060acca79971%2Fy440j0w_processed.png&w=3840&q=75)
Transcribed Image Text:Item
Section of Statement of Cash Flows
Added or Deducted
Amount
Sale of common stock
Cash dividend
Stock dividend
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