Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Accounts payable $57,920 $53,810 Dividends payable 20,000 16,000 Bonds payable 290,000 450,000 Common stock, $10 par value 180,000 120,000 Paid-in capital in excess of par—common stock 328,000 232,000 Retained earnings 488,000 375,000 During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Accounts payable $57,920 $53,810 Dividends payable 20,000 16,000 Bonds payable 290,000 450,000 Common stock, $10 par value 180,000 120,000 Paid-in capital in excess of par—common stock 328,000 232,000 Retained earnings 488,000 375,000 During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
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 5PA: Statement of cash flowsdirect method applied to PR 13-1A The comparative balance sheet of Livers...
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Financing Activities on the Statement of
Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows:
| Dec. 31, 20Y9 | Dec. 31, 20Y8 | |||||
| Accounts payable | $57,920 | $53,810 | ||||
| Dividends payable | 20,000 | 16,000 | ||||
| Bonds payable | 290,000 | 450,000 | ||||
| Common stock, $10 par value | 180,000 | 120,000 | ||||
| Paid-in capital in excess of par—common stock | 328,000 | 232,000 | ||||
| 488,000 | 375,000 |
During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share.
Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate
| Cosmat Inc. Statement of Cash Flows (partial) |
||
| Cash flows from (used for) financing activities: | ||
| $fill in the blank 2 | ||
| fill in the blank 4 | ||
| fill in the blank 6 | ||
| $fill in the blank 8 |
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