Question

Question 13 The board of directors of Cullumber Corp. declared cash dividends of $260,000 during the current year. If dividends payable was $95,000 at the beginning of the year and $95,000 at the end of the year, how much cash was paid in dividends during the year?

Cash paid in dividends $

Answer 1

>> Cash paid in dividend = Opening dividend payable + Declared cash dividend - Ending dividend payable.

>> Cash paid in dividend = $ 95,000 + $ 260,000 - $ 95,000.

>> Cash paid in dividend = $ 260,000.