Question: The following account balances relate to the stockholders equity accounts 132368

The following account balances relate to the stockholders’ equity accounts of Hanshew Corp. at year-end.

A small stock dividend was declared and issued in 2011. The market value of the shares was $10,500. Cash dividends were $15,000 in both 2011 and 2010. The common stock has no par or stated value.

(a) What was the amount of net income reported by Hanshew Corp. in 2011?
(b) Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2011.
(c) Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cashflows.

Sale on SolutionInn
  • CreatedAugust 01, 2012
  • Files Included
Post your question