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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, $20 par ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance, 40,000 shares         800,000   Apr. 2     10,000 shares issued for cash     200,000       1,000,000   June 30     2,000-share stock dividend   40,000       1,040,000   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     280,000       440,000   June 30     Stock dividend   30,000       470,000   ACCOUNT Retained Earnings ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance         664,000   June 30     Stock dividend 70,000           594,000   Dec. 30     Cash dividend 76,400           517,600   Dec. 31     Net income   478,100       995,700   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     $fill in the blank 3 Cash dividend     $fill in the blank 6 Stock dividend     $fill in the blank 9

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, 40,000 shares         800,000   Apr. 2     10,000 shares issued for cash     200,000       1,000,000   June 30     2,000-share stock dividend   40,000       1,040,000   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     280,000       440,000   June 30     Stock dividend   30,000       470,000   ACCOUNT Retained Earnings ACCOUNT NO.         Balance Date Item Debit Credit Debit Credit Jan. 1     Balance         664,000   June 30     Stock dividend 70,000           594,000   Dec. 30     Cash dividend 76,400           517,600   Dec. 31     Net income   478,100       995,700   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     $fill in the blank 3 Cash dividend     $fill in the blank 6 Stock dividend     $fill in the blank 9

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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, $20 par ACCOUNT NO.
        Balance
Date Item Debit Credit Debit Credit
Jan. 1     Balance, 40,000 shares         800,000  
Apr. 2     10,000 shares issued for cash     200,000       1,000,000  
June 30     2,000-share stock dividend   40,000       1,040,000  



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     280,000       440,000  
June 30     Stock dividend   30,000       470,000  



ACCOUNT Retained Earnings ACCOUNT NO.
        Balance
Date Item Debit Credit Debit Credit
Jan. 1     Balance         664,000  
June 30     Stock dividend 70,000           594,000  
Dec. 30     Cash dividend 76,400           517,600  
Dec. 31     Net income   478,100       995,700  

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     $fill in the blank 3
Cash dividend     $fill in the blank 6
Stock dividend     $fill in the blank 9
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