BalanceDateItemDebitCreditDebitCreditJan.1Balance70,000Apr.28,750 shares issued for cash245,000315,000June30Stock dividend15,000330,000ACCOUNT Retained EarningsACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.1Balance581,000June30Stock dividend35,000546,000Dec.30Cash dividend66,800479,200Dec.31Net income418,300897,500If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.ItemSection of Statement of Cash FlowsAdded or DeductedAmount6Sale of common stock$ 418,300Cash dividend418,000Stock dividend Reporting Stockholders' Equity Items on Statement of Cash FlowsOn 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 nounpaid dividends at either the beginning or the end of the year.ACCOUNT Common Stock, $20 parACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.1Balance, 35,000 shares700,000Apг.8,750 shares issued for cash175,000875,000June301,000-share stock dividend20,000895,000ACCOUNT Paid-In Capital in Exces of Par-Common StockACCOUNT NO.BalanceDateItemDebitCreditDebitCreditJan.1Balance70,000Apг.8,750 shares issued for cash245,000315,000June30Stock dividend15,000330,000ACCOUNT Retained FarningsACCOUNT NO.

Financing activities of the company include those activities which deal with funding the company .…

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 unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 35,000 shares 700,000 Apr. 8,750 shares issued for cash 175,000 875,000 June 30 1,000-share stock dividend 20,000 895,000 .CCOUNT Paid-In Capital in Exces of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 70,000 Jan. 1 Balance 245,000 315,000 Apr. 2 8,750 shares issued for cash 15,000 330,000 June 30 Stock dividend

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 unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 35,000 shares 700,000 Apr. 8,750 shares issued for cash 175,000 875,000 June 30 1,000-share stock dividend 20,000 895,000 .CCOUNT Paid-In Capital in Exces of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 70,000 Jan. 1 Balance 245,000 315,000 Apr. 2 8,750 shares issued for cash 15,000 330,000 June 30 Stock dividend

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject : Accounting
FINANCING ACTIVITIES How much is cash paid for dividends?
2. What is the total dollar amount for each of the four cash dividends?
Marcellus Corporation reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the year, the following transactions affected its stockholders' equity accounts. $ 400,000 60,000 330,000 $ 790,000 January 2 Purchased 4,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $549,500…
Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $48,600 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. July 9 Aug. 31 Oct. 1
At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $14 par value Paid-in capital in excess of par value, common stock. Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 October 31 November 5 December 1 December 31 General Journal Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings. Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $14 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance $ $360,000 120,000 360,000 $ $ $ Required: 2. Complete the following table showing the equity…
Reporting Stockholders' Equity Items on Statement of Cash Flows 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 Date Item Debit Credit Debit Credit Jan. 1 Balance, 35,000 shares 350,000 Apr. 2 8, 750 shares issued for cash 87, 500 437,500 June 30 1,000 - share stock dividend 10,000 447, 500 ACCOUNT Paid - In Capital in Excess of Par - Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 140,000 Apr. 2 8, 750 shares issued for cash 183,750 323, 750 June 30 Stock dividend 7,500 331, 250 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 291, 000 June 30 Stock dividend 17,500 273,500 Dec. 30 Cash dividend 33,500 240,000 Dec. 31 Net income 209,500 449, 500 If an amount is not reported…
Prepare journal entries to record the following transactions for Emerson Corporation. July 15 Declared a cash dividend payable to common stockholders of $160,000. August 15 Date of record is August 15 for the cash dividend declared on July 15. August 31 Paid the dividend declared on July 15.
A company issues 50,000 shares of common stock to retire 15-year bonds payable. This transaction would be reported on the statement of cash flows in O a. the cash flows from investing activities section O b. the cash flows from operating activities section O c. a separate section at the bottom O d. the cash flows from financing activities section
Reporting stockholders' equity items on statement of cash flows 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, $40 par ACCOUNT NO. Date Item January 1 Balance, 120,000 shares April 2 30,000 shares issued for cash June 30 5% stock dividend Debit Credit Balance Debit Balance Credit 4,800,000 1,200,000 300,000 6,000,000 6,300,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stockr ACCOUNT NO. Date Item January 1 Balance April 2 30,000 shares issued for cash June 30 Stock dividend Debit Credit Balance Debit Balance Credit 360,000 720,000 150,000 1,080,000 1,230,000 ACCOUNT Retained Earnings ACCOUNT NO. Date Item Debit Credit Balance Debit Balance Credit January 1 June 30 Balance 2,000,000 Stock dividend December 30 Cash dividend 450,000 315,000 1,550,000 1,235,000 December 31 Net…
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. Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance, 60,000 shares 300,000 April 2 15,000 shares issued for cash 75,000 375,000 June 30 2,000-share stock dividend 10,000 385,000 Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 180,000 April 2 15,000 shares issued for cash 210,000 390,000 June 30 Stock dividend 7,500 397,500 Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 249,000 June 30 Stock dividend 17,500 231,500 December 30 Cash dividend 28,600 202,900 December 31 Net income 179,300 382,200 If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column. Item Section of Statement of…