Homework Answers
Solution 1:
Net Income = Ending Balance of Retained Earnings - Beginning Balance of Retained Earnings + Cash Dividends paid + Stock Dividends issued
= $307120 - 244240 + 19230 + 9320
= $91,430
Solution 2:
Cash flow related to common stock = ($175660- $154860) - $9320 = $11,480
Cash flow related to Dividend account = - $19,230
Solution 3:
Cash flow related to common stock = Financing Activities
Cash flow related to Dividend account = Financing Activities
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2022
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A small stock dividend was declared and issued in 2022. The market
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What was...
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Question 3
The following account balances relate to the stockholders’ equity
accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019....
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