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 no unpaid dividends at either the beginning or the end of the year.ACCOUNT Common Stock, $40 parACCOUNT NO.DateItemJanuary 1 Balance, 120,000 sharesApril 230,000 shares issued for cashJune 305% stock dividendDebit CreditBalanceDebitBalanceCredit4,800,0001,200,000300,0006,000,0006,300,000ACCOUNT Paid-In Capital in Excess of Par-Common Stockr ACCOUNT NO.DateItemJanuary 1 BalanceApril 230,000 shares issued for cashJune 30Stock dividendDebit CreditBalanceDebitBalanceCredit360,000720,000150,0001,080,0001,230,000ACCOUNT Retained EarningsACCOUNT NO.DateItemDebitCreditBalanceDebitBalanceCreditJanuary 1June 30Balance2,000,000Stock dividendDecember 30Cash dividend450,000315,0001,550,0001,235,000December 31Net income1,000,0002,235,000If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.ItemSection of Statement of Cash FlowsSale of common stockCash dividendStock dividendAdded or DeductedAmount

For the "sale of common stock", we refer to the April 2 transaction under the Common stock and Paid…

Answered: Reporting stockholders' equity items on…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 12E

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Similar questions

Common stock transactions on the statement of cash flows Jones Industries received 600,000 from issuing shares of its common stock and 400,000 from issuing bonds. During the year, Jones Industries also paid dividends of 60,000. How are the effects of these transactions reported on the statement of cash flows?
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 900,000 Apr. 14 Issued 13,200 shares 396,000 Dec. 31 Balance 1,296,000 Paid-In Capital in Excess of Par Jan. 1 Balance 144,000 Apr. 14 Issued 13,200 shares 92,400 Dec. 31 Balance 236,400 Treasury Stock Aug. 7 Purchased 2,200 shares 61,600 Retained Earnings Mar. 31 Dividend 23,000 Jan. 1 Balance 1,570,000 June. 30 Dividend 23,000 Dec. 31 Closing Sept. 30 Dividend 23,000 (Net income) 236,000 Dec. 31 Dividend 23,000 Dec. 31 Balance 1,714,000 Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. If an amount is zero or an entry is not required, leave the box blank.
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained Earnings Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000 June 30 Dividend 69,000 Dec. 31 Closing Sept. 30 Dividend 69,000 (net income) 3,780,000 Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000 If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number…
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained Earnings Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000 June 30 Dividend 69,000 Dec. 31 Closing Sept. 30 Dividend 69,000 (net income) 3,780,000 Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000 If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number…
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,200,000 Apr. 14 Issued 18,600 shares 558,000 Dec. 31 Balance 1,758,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 192,000 Apr. 14 Issued 18,600 shares 130,200 Dec. 31 Balance 322,200 TREASURY STOCK Aug. 7 Purchased 3,100 shares 86,800 RETAINED EARNINGS Mar. 31 Dividend 31,000 Jan. 1 Balance 2,090,000 June. 30 Dividend 31,000 Dec. 31 Closing Sept. 30 Dividend 31,000 (Net income) 314,000 Dec. 31 Dividend 31,000 Dec. 31 Balance 2,280,000 Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. If an amount box does not require an entry, leave it blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. I-Cards Inc.Statement of Stockholders' EquityFor the Year Ended…
Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,300,000 Apr. 14 Issued 11,400 570,000 shares Dec. 31 Balance 1,870,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 208,000 Apr. 14 Issued 11,400 136,800 shares Dec. 31 Balance 344,800 TREASURY STOCK Aug. 7 Purchased 1,900 shares 91,200 RETAINED EARNINGS Mar. 31 Dividend 33,000 Jan. 1 Balance 2,260,000 June. 30 Dividend 33,000 Dec. 31 Closing Sept. 30 Dividend 33,000 (Net income) 339,000 Dec. 31 Dividend 33,000 Dec. 31 Balance 2,467,000 Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. If an amount box does not require an entry I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y9
List the errors in the following Stockholders' Equity section of the balance sheet prepared as of the end of the current year: Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued).... Excess of issue price over par. Retained earnings.... Treasury stock (75,000 shares at cost) Dividends payable... Total paid-in capital $10,000,000 $ 10,500,000 96,700,000 500,000 1,755,000 430,000 $ 109,385,000 Common stock, $20 par (1,000,000 shares authorized, 825,000 shares issued)..... 17,655,000 Organizing costs .... Total stockholders'equity.. 300,000 $127,340,000 ... ...
Statement of stockholders' equity The stockholders' equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders' equity for the ended December 31, 20Y9. Aug. 7 Purchased 12,000 shares Mar. 31 June 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend Common Stock Jan. 1 Balance Apr. 14 Issued 30,000 shares Dec. 31 Balance Paid-In Capital in Excess of Par Jan. 1 Balance Apr. 14 Issued 30,000 shares Dec. 31 Balance Treasury Stock 552,000 Retained Earnings 69,000 Jan. 1 Balance. 69,000 Dec. 31 Closing (net income). 69,000 69,000 Dec. 31 Balance 4,800,000 1,200,000 6,000,000 960,000 300,000 1,260,000 11,375,000 3,780,000 14,879,000
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,500,000 Apr. 14 Issued 17,400 shares 696,000 Dec. 31 Balance 2,196,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 240,000 Apr. 14 Issued 17,400 shares 139,200 Dec. 31 Balance 379,200 TREASURY STOCK Aug. 7 Purchased 2,900 shares 107,300 RETAINED EARNINGS Mar. 31 Dividend 38,000 Jan. 1 Balance 2,610,000 June. 30 Dividend 38,000 Dec. 31 Closing Sept. 30 Dividend 38,000 (Net income) 392,000 Dec. 31 Dividend 38,000 Dec. 31 Balance 2,850,000 Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. If an amount is zero or an entry is not required, leave the box blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. I-Cards Inc. Statement of Stockholders' Equity For…
The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. COMMON STOCK Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 6,000,000 Dec. 31 Balance PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 TREASURY STOCK Aug. 7 Purchased 12,000 shares 552,000 RETAINED EARNINGS Dividend Jan. 1 Balance Mar. 31 69,000 11,375,000 Dividend Closing (net income) June 30 69,000 Dec. 31 Sept. 30 Dividend 69,000 3,780,000 Dec. 31 Dec. 31 Dividend Balance 69,000 14,879,000
Stockholders' Equity Section of Balance Sheet The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30 of the current year: Common Stock, $45 par $3,060,000 Paid-In Capital from Sale of Treasury Stock 115,000 Paid-In Capital in Excess of Par—Common Stock 272,000 Retained Earnings 20,553,000 Treasury Stock 324,000 Prepare the Stockholders’ Equity section of the balance sheet as of June 30 using Method 1 of Exhibit 8. Eighty thousand shares of common stock are authorized, and 9,000 shares have been reacquired.
Required information [The following information applies to the questions displayed below.] Consolidated Edison, Incorporated (Con Edison), is a public utility company operating primarily in New York whose annual revenues exceed $12 billion. It reported the following December 31 simplified balances in its statement of stockholders' equity (dollars in millions): Current Year $ 38 8,554 11,500 Prior Year $ 35 7,667 11,088 Common stock Paid-in capital Retained earnings During the current year, Con Edison reported net income of $1,383. Dividends Required: 1. How much did Con Edison declare in dividends for the year? Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

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