On October 1, 2011, Evans Corporation declared a $50,000 cash dividend to be pai
ID: 2447266 • Letter: O
Question
On October 1, 2011, Evans Corporation declared a $50,000 cash dividend to be paid on December 30 to shareholders of record on November 20.
Record the events occurring on October 1, November 20, and December 30 in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA) or not applicable (NA). (Amounts to be deducted should be indicated with minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
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.
Explanation / Answer
Balance Sheet Income Statement Statement of Cash Flows Date Assets = Liab. + C. Stk. + Ret. Ear. Rev. - Exp. = Net Inc. 10/1 0 = 50000 + 0 + -50000 0 - 0 = 0 0 NA 11/20 0 = 0 + 0 + 0 0 - 0 = 0 0 NA 12/30 -50000 = -50000 + 0 + 0 0 - 0 = 0 0 FA
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