Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders'...
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, $5 par | ACCOUNT NO. | |||||||||||
| Balance | ||||||||||||
| Date | Item | Debit | Credit | Debit | Credit | |||||||
| Jan. | 1 | Balance, 45,000 shares | 225,000 | |||||||||
| Apr. | 2 | 11,250 shares issued for cash | 56,250 | 281,250 | ||||||||
| June | 30 | 2,000-share stock dividend | 10,000 | 291,250 | ||||||||
| ACCOUNT Paid-In Capital in Excess of Par-Common Stock | ACCOUNT NO. | |||||||||||
| Balance | ||||||||||||
| Date | Item | Debit | Credit | Debit | Credit | |||||||
| Jan. | 1 | Balance | 135,000 | |||||||||
| Apr. | 2 | 11,250 shares issued for cash | 191,250 | 326,250 | ||||||||
| June | 30 | Stock dividend | 7,500 | 333,750 | ||||||||
| ACCOUNT Retained Earnings | ACCOUNT NO. | |||||||||||
| Balance | ||||||||||||
| Date | Item | Debit | Credit | Debit | Credit | |||||||
| Jan. | 1 | Balance | 187,000 | |||||||||
| June | 30 | Stock dividend | 17,500 | 169,500 | ||||||||
| Dec. | 30 | Cash dividend | 21,500 | 148,000 | ||||||||
| Dec. | 31 | Net income | 134,600 | 282,600 | ||||||||
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 | $ |
Homework Answers
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 | Financing activities | added | $247500 |
| Cash dividend | Financing activities | Deducted | -21500 |
| Stock dividend | Not reported | NE | $0 |
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Reporting Stockholders' Equity Items on Statement of Cash
Flows
On the basis of the following stockholders'...
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders'...
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, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 700,000 Jan. 1 Apr. 2 June 30 Balance, 35,000 shares 8,750 shares issued for cash 1,000-share stock...
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders'...
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The comparative balance sheet of Whitman Co. at December 31,
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The noncurrent asset, noncurrent liability, and stockholders’
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Dec. 31, 2016 Dec. 31, 2015 Assets Cash 918,000 964,800 761,940 1,162,980 35,100 479,700 900,900 (408,600) (382,320) 54,680 141,300 (158,760) $4,785,480 $4,219,020 828,900 1,268,460 29,340 315,900 1,462,500 512,280 Liabilities and Stockholders' Equity 922,500 958,320 0 117,000 558,000 2,585,700 $4,785,480 $4,219,020 270,000 317,000 758,000...
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Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 606,710
$ 655,870
Accounts receivable (net)
552,110
503,570
Inventories
837,260
770,520
Prepaid expenses
19,410
23,050
Land
208,710
315,490
Buildings
964,670
594,580
Accumulated depreciation-buildings
(273,020)
(254,820)
Equipment
339,760
300,320
Accumulated depreciation-equipment
(93,430)
(104,960)
Total assets
$3,162,180
$2,803,620
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 600,810
$ 634,010
Bonds payable...
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, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 700,000 Jan. 1 Apr. 2 June 30 Balance, 35,000 shares 8,750 shares issued for cash 1,000-share stock...
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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, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Balance, 55,000 shares 1,100,000 Jan. Apr. 1 2 13,750 shares issued for cash 275,000 1,375,000 June 2,000-share...
the basis of the following stockholders' equty accounts, indicate the tems, exdusive of net income, ta be reported on the statement of cash flows. There were no unpald dvidends at either the beginning or the end of the year ACCOUNT Common Stock, $40 par ACCOUNT NO. Balance Item Debit Credit Debit Credit Date Jan. p Balance, 120,000 shares 4,800,000 30,000 shares issued for cash 1,200,000 ure30 400-hare stodk davidend 176,000 6,176,000 ACCOUNT Paid-In Capital in Excess of Par Common Stock...
Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Credit Jan. 1 Mar. 12 Oct. 4 Balance Purchased for cash Sold for $204,000 Debit 1,131,000 1,504,000 1,329,000 373,000 175,000 Section of Statement of Cash Flows Item Added or Deducted Amount Mar. 12: Purchase of fixed asset Investing activities...
PR 16-3A Statement of cash flows—indirect method
The comparative balance sheet of Whitman Co. at December 31,
2016 and 2015, is as follows:
The noncurrent asset, noncurrent liability, and stockholders’
equity accounts for 2016 are as follows:
Dec. 31, 2016 Dec. 31, 2015 Assets Cash 918,000 964,800 761,940 1,162,980 35,100 479,700 900,900 (408,600) (382,320) 54,680 141,300 (158,760) $4,785,480 $4,219,020 828,900 1,268,460 29,340 315,900 1,462,500 512,280 Liabilities and Stockholders' Equity 922,500 958,320 0 117,000 558,000 2,585,700 $4,785,480 $4,219,020 270,000 317,000 758,000...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Whitman Co. at December 31,
20Y2 and 20Y1, is as follows:
Dec. 31,
20Y2
Dec. 31,
20Y1
Assets
Cash
$ 606,710
$ 655,870
Accounts receivable (net)
552,110
503,570
Inventories
837,260
770,520
Prepaid expenses
19,410
23,050
Land
208,710
315,490
Buildings
964,670
594,580
Accumulated depreciation-buildings
(273,020)
(254,820)
Equipment
339,760
300,320
Accumulated depreciation-equipment
(93,430)
(104,960)
Total assets
$3,162,180
$2,803,620
Liabilities and Stockholders'
Equity
Accounts payable (merchandise creditors)
$ 600,810
$ 634,010
Bonds payable...
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