The Following Transactions Occurred at the Lionel Corporation in 2013

question 37

Essay

The following transactions occurred at the Lionel Corporation in 2013. Use this information to prepare Lionel's schedule of cash flows from financing activities.
A) The company issued 300 shares of its $50 par value common stock.
B) Cash dividends of $25,000 were paid on common stock during the year.

• A) The company issued 300 shares of its $50 par value common stock.
• B) Cash dividends of $25,000 were paid on common stock during the year.

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Definitions:

Schenck V. United States

is a landmark 1919 Supreme Court case that established the "clear and present danger" test for restrictions on free speech, related to circumstances under which the government can regulate speech in the interest of national security.

Clear And Present Danger

A doctrine used to test whether limitations may be placed on First Amendment freedoms of speech, press, or assembly when the exercise of these rights presents an immediate danger.

Affirmative Action

Policies or measures that favor individuals belonging to groups known to have been discriminated against previously, often related to education and employment.

Future Sum

The amount of money or value to be received or paid at a specified date in the future.