Selected accounts from the SFP of Passen Limited at 31 December 20X8 and 20X7 are presented below. Passen reported earnings of $172,000 in 20X8. There was a stock dividend recorded, valued at $86,000 that reduced retained earnings and increased common shares. There was also a cash dividend declared and common shares issued for cash. As at 31 December 20X8 20X7 Cash dividends payable $ 34,400 $ 20,600 Bonds payable 1,548,000 858,300 Common shares 688,000 171,700 Retained earnings 387,000 429,300 Required: List the items that would be included in the SCF from these accounts for 20X8. Assume indirect method is used to calculate operating activities section.
Selected accounts from the SFP of Passen Limited at 31 December 20X8 and 20X7 are presented below. Passen reported earnings of $172,000 in 20X8. There was a stock dividend recorded, valued at $86,000 that reduced retained earnings and increased common shares. There was also a cash dividend declared and common shares issued for cash. As at 31 December 20X8 20X7 Cash dividends payable $ 34,400 $ 20,600 Bonds payable 1,548,000 858,300 Common shares 688,000 171,700 Retained earnings 387,000 429,300 Required: List the items that would be included in the SCF from these accounts for 20X8. Assume indirect method is used to calculate operating activities section.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Selected accounts from the SFP of Passen Limited
at 31 December 20X8 and 20X7 are presented
below. Passen reported earnings of $172,000 in
20X8. There was a stock dividend recorded,
valued at $86,000 that reduced retained earnings
and increased common shares.
There was also a cash dividend declared and
common shares issued for cash.
As at 31 December 20X8 20X7
Cash dividends payable $ 34,400 $ 20,600
Bonds payable 1,548,000 858,300
Common shares 688,000 171,700
Retained earnings 387,000 429,300
Required:
List the items that would be included in the SCF
from these accounts for 20X8. Assume indirect
method is used to calculate operating activities
section.
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