On the basis of the following stockholders equity accounts, indicate the items, exclusive of net income, to
Question:
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.
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ACCOUNT Common Stock, S50 par ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2014 Jan Mar June 305,500-share stock dividend 1Balance, 150,000 shares 7 37,500 shares issued for cash 1,875,000 275,000 7,500,000 9,375,000 9,650,000 ACCOUNT Paid-In Capital in Excess of Par- Common Stock ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2014 Jan Mar June 30 Stock dividend ACCOUNT Retained Earnings 1 Balance 7 37,500 shares issued for cash 3,000,000 495,000 500,000 3,500,000 3,995,000 ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2014 Jan. June 30 Stock dividend Dec. 30Cash dividend 1Balance 2,500,000 1,730,000 1,006,250 2,806,250 770,000 723,750 31 Net income 1,800,000
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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