Partial balance sheets for ABC Company and additional information are provided below ABC Company Partial Balance Sheets as of December 31 Assets Equipment Accumulated depreciation Shareholders' equity Common stock, $10 par Paid-in capital-excess of par Retained earnings Additional information for 2024: 2024 $ 112,000 ✓ (31,000) $ 192,000 26,000 52,000 2023 $ 87,000 (26,000) $ 112,000 0 42,000 July 1: Issued 9,200 shares of common stock for cash. July 1: Purchased new equipment for cash. December 31: Paid cash dividends of $26,000. Required: Prepare the financing activities section of the statement of cash flows for 2024. Note: Amounts to be deducted should be indicated with a minus sign.
Partial balance sheets for ABC Company and additional information are provided below ABC Company Partial Balance Sheets as of December 31 Assets Equipment Accumulated depreciation Shareholders' equity Common stock, $10 par Paid-in capital-excess of par Retained earnings Additional information for 2024: 2024 $ 112,000 ✓ (31,000) $ 192,000 26,000 52,000 2023 $ 87,000 (26,000) $ 112,000 0 42,000 July 1: Issued 9,200 shares of common stock for cash. July 1: Purchased new equipment for cash. December 31: Paid cash dividends of $26,000. Required: Prepare the financing activities section of the statement of cash flows for 2024. Note: Amounts to be deducted should be indicated with a minus sign.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 38E: Tidwell Company experienced the following during 20X1: a. Sold preferred stock for 480,000. b....
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Transcribed Image Text:Partial balance sheets for ABC Company and additional information are provided below.
ABC Company
Partial Balance Sheets
as of December 31
Assets
Equipment
Accumulated depreciation
Shareholders' equity
Common stock, $10 par
Paid-in capital-excess of par
Retained earnings
Additional information for 2024:
2024
$ 112,000
(31,000)
Cash flows from financing activities:
Issuance of common stock
Payment of cash dividends
$ 192,000
26,000
52,000
2023
$ 87,000
(26,000)
$ 112,000
0
42,000
July 1: Issued 9,200 shares of common stock for cash.
July 1: Purchased new equipment for cash.
December 31: Paid cash dividends of $26,000.
Required:
Prepare the financing activities section of the statement of cash flows for 2024.
Note: Amounts to be deducted should be indicated with a minus sign.
$ 100,000
(26,000)
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