The following account balances relate to the stockholders' equity accounts of Bramble Corp. at year-end. 2022 2021 Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively for 2022 and 2021 $159,000 $135,100 Preferred stock, 5,000 shares, issued and outstanding 119,600 119,600 Retained earnings 299,500 253,100 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $10,700. Cash dividends of $15,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.
The following account balances relate to the stockholders' equity accounts of Bramble Corp. at year-end. 2022 2021 Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively for 2022 and 2021 $159,000 $135,100 Preferred stock, 5,000 shares, issued and outstanding 119,600 119,600 Retained earnings 299,500 253,100 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $10,700. Cash dividends of $15,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following account balances relate to the stockholders' equity accounts of Bramble Corp. at year-end.
2022
2021
Common stock, 10.500 and 10,000 shares, issued and
outstanding, respectively for 2022 and 2021
$159,000
$135,100
Preferred stock. 5,000 shares, issued and outstanding
119,600
119,600
Retained earnings
299,500
253,100
A small stock dividend was declared and issued in 2022. The market price of the shares issued was $10,700. Cash dividends of
$15,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.
(a)
(b)
Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022.
Common stock
Dividends
$
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