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.
Transcribed Image Text:
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
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
Cash flows from financin...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
The Metro Central Railroad is a commuter railroad that stops at the Village of Kelly. Kelly, a growing community, decides to construct and operate a parking lot near the railroad station to...
-
On the basis of the following proposed mechanism, account for the experimental fact that the rate law for the decomposition 2 N2O5 (g) → 4 NO2 (g) + O2 (g) is v=k [N205]' k,ki (I) NO NO.+NO, (2)...
-
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit8. Inventory Quantity...
-
Write a program that finds a contiguous subarray of length at most \(m\) in an array of \(n\) long integers that has the highest average value among all such subarrays, by trying all subarrays. Use...
-
Moseley established the concept of atomic number by studying X-rays emitted by the elements. The X-rays emitted by some of the elements have the following wavelengths: Element Wavelength (A) Ne...
-
Solve the given problems. If the angle between adjacent sides of a parallelogram is 90, what conclusion can you make about the parallelogram?
-
You just received an unexpected bonus at work of \($10,000.\) While you plan on using a bit of it to celebrate by purchasing all the accounting books you ever dreamed of, how much should you deposit...
-
Consider the following GRADEBOOK relational schema describing the data for a grade book of a particular instructor. CATALOG(Cno, Ctitle) STUDENTS(Sid, Fname, Lname, Minit) COURSES(Term, Sec_no, Cno,...
-
A trading company purchased video and digital cameras from a producer for its new store with a total of $142,655. The order has a trade discount of 32% Use the net price rate to find the net price of...
-
A manufacturer of nylon carpets produces rolls of carpeting at four factories and ships them to distributors in five locations The following table shows the capacities at the factories and the...
-
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cashflows: ACCOUNT Land ACCOUNT NO. Balance Date ltem Debit Credi Debit Credit...
-
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cashflows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Cred DebiCredit...
-
How is the National Labor Relations Act different from the Fair Labor Standards Act?
-
Use the websites to find CPP, EI, Federal Tax, and Provincial Tax. If the gross pay falls between the range, then use that number. One chart asks for claim code so connect the claim code with the...
-
Determine the optimal strategy for the situation by representing it as a game and finding the saddle point. State your final answer in the terms of the original question. A Republican and a...
-
Adam works as a financial analyst with General Motors. He was asked by his boss to evaluate two potential projects. The initial cost of project 1 is $300,000 and is expected to produce cash flows of...
-
Compute the total holding period return, capital gain return, current return (cash flow return) for each stock. The stock portfolio is below. Please explain on Excel. Stock Portfolio Name Progressive...
-
"Chapter 12 Investments", basic knowledge of Excel, and XBRL. Goal of the project: Identify which banks had the most decrease in available-for-sale securities and most increase in held-to-maturity...
-
Alkylation of benzene can be accomplished by treating benzene with haloalkane (RX) in the presence of AlCl 3 . The reaction is known as a FriedelCrafts alkylation reaction. (The reaction is named...
-
When is the indirect pattern appropriate, and what are the benefits of using it?
-
Henry Ford founded Ford Motor Company in 1903 in Dearborn, Michigan. In 1908, Ford assembly lines produced the companys first car, the Model T. Henry Ford is often quoted as saying that a customer...
-
Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory ................................ $ 14,500 Merchandise inventory, November 1...
-
Based on the following data, determine the cost of merchandise sold for November: Increase in estimated returns inventory ................................ $ 14,500 Merchandise inventory, November 1...
-
Based on the following data, determine the cost of merchandise sold for July: Increase in estimated returns inventory ...................................... $ 34,900 Merchandise inventory, July 1...
-
Describe, in steps, at least one strategy used to attack embedded operating systems. Describe, in steps, at least one strategy used to defend against the chosen attack.
-
how does a hypercompetetice environment challenge those in an industry
-
Describe how managers can reduce unnecessary costs, including real - world examples of how it has been done
Study smarter with the SolutionInn App