question archive QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company’s comparative balance sheets
QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company’s comparative balance sheets
Subject:AccountingPrice: Bought3
QS 12-9 Computing financing cash flows LO P3
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The following selected information is from Princeton Company’s comparative balance sheets. |
| At December 31 | 2015 | 2014 | ||
| Common stock, $10 par value | $ | 105,000 | $ | 100,000 |
| Paid-in capital in excess of par | 567,000 | 342,000 | ||
| Retained earnings | 313,500 | 287,500 | ||
| The company’s net income for the year ended December 31, 2015, was $48,000. |
1.
Complete the below table to calculate the cash received from the sale of its common stock during 2015.
