Question
BooK 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 De bit Credit Debit Date Jan.1 Apr. 12,500 shares issued for cash June30 2,000-share stock dividend Item Credit 1,000,000 1,250,000 1,290,000 Balance, 50,000 shares 250,000 40,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit Date Jan.1 Apr. 12,500 shares issued for cash June 30 Stock dividend Item Credit Credit 100,000 450,000 480,000 Balance 350,000 30,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Item Debit Credit Debit Date Jan1 June30 Dec30 Dec. 31 Credit Balance Stock dividend Cash dividend Net income 830,000 760,000 664,500 1,262,100 70,000 95,500 597,600 If an amount is not reported on the statement of cash flows, enter in "O" in the Amount column. Item Section of Statement of Cash Flows Added or Deducted Amount
Explanation / Answer
S.no. Effect Amount a cash payment 239,000 b Cash receipt 105,000 c Cash receipt 71000 d cash payment 331000 e cash payment 61000 f Cash receipt 310400 g cash payment 275200 h cash payment 27200