Question

ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit...

ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
Jan. 1 Balance 150,000
Apr. 2 12,500 shares issued for cash 425,000 575,000
June 30 Stock dividend 30,000 605,000


ACCOUNT Retained Earnings ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
Jan. 1 Balance 830,000
June 30 Stock dividend 70,000 760,000
Dec. 30 Cash dividend 95,500 664,500
Dec. 31 Net income 597,600 1,262,100

If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.

Item Section of Statement of Cash Flows Added or Deducted Amount
Sale of common stock $
Cash dividend $
Stock dividend $

options under "section of statement of cash flows":

  • Financing activities section
  • Investing activities section
  • Not reported on statement of cash flows
  • Operating activities section

options under "added or deducted":

  • added
  • deducted
  • not applicable

Homework Answers

Answer #1

Solution

Item Section of Statement of Cash Flows Added or Deducted Amount
Sale of common stock Financing activities section Added $425,000.00
Cash dividend Financing activities section Deducted $ 95,500.00
Stock dividend Not reported on statement of cash flows Not applicable $             -  

Stock dividend does not involve any cash outflow hence it is not reported on cash flow statement anywhere.

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