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.
ACCOUNT Common Stock, $10 par ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2010 Balance, 60,000 shares 15,000 shares issued for cash 2,200-share stock dividend Jan. 1,200,000 Feb. 11 300,000 1,500,000 44,000 June 30 1,544,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Credit Debit Credit Debit Date Item 2010 Balance Jan. 200,000 15,000 shares issued for cash Stock dividend Feb. 480,000 11 680,000 759,200 June 30 79,200 ACCOUNT Retained Earnings ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2010 Jan. Balance 1,000,000 Stock dividend 123,200 June 30 876,800 Cash dividend Dec. 30 115,800 761,000 720,000 Net income 1,481,000 31
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300000 sale of stock would be included in the finan...View the full answer
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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Stocks (also known as equities) are securities that represent ownership in a company. They are issued by companies to raise capital, and when an individual buys stocks, they become a shareholder in that company. Investing in stocks can be a way for individuals to potentially earn a return on their investment through dividends and capital appreciation. However, investing in stocks also carries a level of risk, as the value of the stock can fluctuate based on various factors such as the financial performance of the company and general market conditions. For companies, issuing stocks can be a way to raise funds for growth and expansion. When a company goes public by issuing an initial public offering (IPO), it can raise significant capital by selling ownership stakes to the public. Companies can also issue additional stock offerings to raise additional capital as needed.
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