Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $208,800 during the...
Determining Cash Payments to Stockholders
The board of directors declared cash dividends totaling $208,800 during the current year. The comparative balance sheet indicates dividends payable of $50,100 at the beginning of the year and $45,100 at the end of the year.
What was the amount of cash payments to stockholders during the
year?
$
Homework Answers
Calculation of cash payment to stockholders:
Cash Dividend declared during the year = $ 208,800
Add: Dividend payable at the beginning of the year = 50,100
Total Dividend payable = 258,900
Less: Dividend payable at the end of the year = 45,100
Cash Dividend to stockholders = $ 213,800
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