The balance in retained earnings at December 31, 2019 was $1,440,000 and at December 31, 2020 was $1,164,000. Net income for 2020 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $220,000. A cash dividend was declared and paid. The stock dividend should be reported on the statement of cash flows (indirect method) as an outflow from financing activities of $500,000. а. b. an outflow from financing activities of $720,000. an outflow from investing activities of $720,000. d. Stock dividends are not shown on a statement of cash flows. С.

The balance in retained earnings at December 31, 2019 was $1,440,000 and at December 31, 2020 was $1,164,000. Net income for 2020 was $1,000,000. A stock dividend was declared and distributed which increased common stock $500,000 and paid-in capital $220,000. A cash dividend was declared and paid. The stock dividend should be reported on the statement of cash flows (indirect method) as an outflow from financing activities of $500,000. а. b. an outflow from financing activities of $720,000. an outflow from investing activities of $720,000. d. Stock dividends are not shown on a statement of cash flows. С.

Name: The balance in retained earnings at December 31, 2019 was $1,440,000
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Description: The balance in retained earnings at December 31, 2019 was $1,440,000 and at December 31, 2020was $1,164,000. Net income for 2020 was $1,000,000. A stock dividend was declared and distributedwhich increased common stock $500,000 and paid-in capital $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8MC: Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde...

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