The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is correct. (b) A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. 2022 Net income $ $160,800 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 58,800 2021 $140,000 125,000 270,000 Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. ?
The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is correct. (b) A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. 2022 Net income $ $160,800 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 58,800 2021 $140,000 125,000 270,000 Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. ?
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 Molder Corp. at year-end.
Common stock, 10,500 and 10,000 shares, issued and
outstanding, respectively, for 2022 and 2021
Preferred stock, 5,000 shares, issued and outstanding
Retained earnings
(a)
Your answer is correct.
(b)
VA
2022
A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000
were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.
Net income $
$160,800
What was the amount of net income reported by Molder Corp. in 2022?
58,800
125,000
300,000
2021
$140,000
125,000
270,000
Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022.
?
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