The December 31, 2013, balance sheet of Schism, Inc., showed $120,000 in the com
ID: 2709997 • Letter: T
Question
The December 31, 2013, balance sheet of Schism, Inc., showed $120,000 in the common stock account and $2,120,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed $135,000 and $2,380,000 in the same two accounts, respectively. If the company paid out $135,000 in cash dividends during 2014. (Enter your answer as directed, but do not round intermediate calculations.)
What was the cash flow to stockholders for the year? (Negative amount should be indicated by a minus sign.)
The December 31, 2013, balance sheet of Schism, Inc., showed $120,000 in the common stock account and $2,120,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed $135,000 and $2,380,000 in the same two accounts, respectively. If the company paid out $135,000 in cash dividends during 2014. (Enter your answer as directed, but do not round intermediate calculations.)
Explanation / Answer
Dec.31,2013 Dec.31,2014 Difference Common stock 120000 135000 15000 Additional paid-in surplus account 2120000 2380000 260000 Cash dividends 135000 135000 For the Company- Schism Inc. Cash Flow( generated from) Financing activity Issue of common stock 15000 Additional paid-in surplus account 260000 Less: cash dividends paid -135000 140000 Cash Flow to share holders Dividends received 135000
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.