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 yea ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 50,000 shares 750,000 Аpг. 2 12,500 shares issued for cash 187,500 937,500 June 30 2,000-share stock dividend 30,000 967,500 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 200,000 Apr. 2 12,500 shares issued for cash 362,500 562,500 June 30 Stock dividend 22,500 585,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 623,000 June 30 Stock dividend 52,500 570,500 Dec. 30 Cash dividend 71,600 498,900 Dec. 31 Net income 448,600 947,500 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 Cash dividend Stock dividend

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 yea ACCOUNT Common Stock, $15 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 50,000 shares 750,000 Аpг. 2 12,500 shares issued for cash 187,500 937,500 June 30 2,000-share stock dividend 30,000 967,500 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. Balance 200,000 Apr. 2 12,500 shares issued for cash 362,500 562,500 June 30 Stock dividend 22,500 585,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 623,000 June 30 Stock dividend 52,500 570,500 Dec. 30 Cash dividend 71,600 498,900 Dec. 31 Net income 448,600 947,500 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 Cash dividend Stock dividend

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter11: Stockholders' Equity

Section: Chapter Questions

Problem 11.1E

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

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, $15 par
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance, 50,000 shares
750,000
Аpг.
12,500 shares issued for cash
187,500
937,500
June 30
2,000-share stock dividend
30,000
967,500
ACCOUNT Paid-In Capital in Excess of Par-Common Stock
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
Balance
200,000
Apr.
2
12,500 shares issued for cash
362,500
562,500
June 30
Stock dividend
22,500
585,000
ACCOUNT Retained Earnings
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Jan.
1
Balance
623,000
June
30
Stock dividend
52,500
570,500
Dec.
30
Cash dividend
71,600
498,900
Dec.
31
Net income
448,600
947,500
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
Cash dividend
Stock dividend

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