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July 29, 2014

Homework Help: accounting

Posted by janet on Monday, April 18, 2011 at 12:39am.

(TCO 8) Partial balance sheets for ABC Company and additional information are provided below.
ABC Company, Partial Balance Sheets, As of December 31
2009 2008
Equipment $100,000 $75,000
Accumulated depreciation (25,000) (20,000)
Common stock, $5 par 180,000 100,000
Paid in capital 20,000
Retained earnings 40,000 30,000
Additional information for 2009:
July 1: Issued 8,000 shares of common stock for cash.
July 1: Purchased new equipment for cash.
December 31: Paid cash dividends of $20,000.
Prepare the financing activities section of the statement of cash flows for 2009. (Points: 25)

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