Who Knows Accounting?
10-16-2011, 01:32 PM
#31
Super Member
Join Date: Apr 2010
Location: Galveston Texas
Posts: 1,596
I had 2 yrs Algebra, opened my sons Algebra book and didn't recongnize a thing. I didn't take Accounting until college, but by that time I sometimes understood better than the teacher. Experience counts.
10-16-2011, 06:20 PM
#33
Super Member
Join Date: Jan 2011
Location: Woodstock, GA USA
Posts: 1,250
Definitely looks like they are making sure you know the difference between 'declared' and 'paid'. As stated you would not need to make any entry for the declared dividend on the SOCF.
Originally Posted by Lneal
The problem says ; An examination of the income statement and the accounting records revealed the following additional information applicable to 2013:
On the statement of cash flows indirect method these numbers are entered for the liabilities and stockholders equity. Dec 31, 2013 $28,080 .......... Dec 31 2012 $21,600
Then I am given Cash dividends declared, $112,320 as the additional information.
When doing my cash flows from financial activities I don't know how to enter the amount for less cash paid for dividends.
I hope I am making sense and sorry if I am not. This is so new to me.
On the statement of cash flows indirect method these numbers are entered for the liabilities and stockholders equity. Dec 31, 2013 $28,080 .......... Dec 31 2012 $21,600
Then I am given Cash dividends declared, $112,320 as the additional information.
When doing my cash flows from financial activities I don't know how to enter the amount for less cash paid for dividends.
I hope I am making sense and sorry if I am not. This is so new to me.
10-16-2011, 08:35 PM
#34
Senior Member
Join Date: Nov 2006
Posts: 786
if it is asking for "less cash paid for dividends" I think that just means what you originally paid for it (the shares, etc). if the dividends paid were 112,320 less 100,000 (just using this as an example of what it originally cost) then the earnings on the dividends would be 12,320.00
10-17-2011, 04:01 AM
#35
Banned
Join Date: Nov 2010
Posts: 4,134
Originally Posted by raksmum
if it is asking for "less cash paid for dividends" I think that just means what you originally paid for it (the shares, etc). if the dividends paid were 112,320 less 100,000 (just using this as an example of what it originally cost) then the earnings on the dividends would be 12,320.00
Dividends don't "originally" cost anything.
It's not something you buy and then resell.
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