Effect of cash dividends on financial statements
On October 1, 2011, Evans Corporation declared a $50,000 cash dividend to be paid on December 30 to shareholders of record on November 20.
Required
Record the events occurring on October 1, November 20, and December 30 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA).
|
Date |
Assets |
= |
Liabilities |
+ |
Com. Stock |
+ |
Ret. Earn. |
Rev. |
Exp. |
= |
Net Inc. |
Cash Flow |