
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Takaki Inc. reported net income of $53,000 for 20Y7. The liability and equity accounts from the company’s comparative
Dec. 31, 20Y7 | Dec. 31, 20Y6 | |||||
Accounts payable | $31,900 | $28,400 | ||||
Dividends payable | 5,000 | 3,000 | ||||
Common stock, $5 par value | 80,000 | 75,000 | ||||
Paid-in capital in excess of par-common stock | 37,000 | 30,000 | ||||
130,600 | 81,600 |
During the year, the company declared dividends of $4,000 and issued 1,000 shares of common stock for $12 per share.
Prepare the
Takaki Inc.
Statement of Cash Flows (partial)
Cash flows from (used for) financing activities: | ||
|
$Cash received from issuing common stock | |
|
Cash dividends | |
|
$Net cash flows from financing activities |
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