Dividends declared during the year were $48,000. The dividends payable account increased by $4,000. Which of...
Dividends declared during the year were $48,000. The dividends payable account increased by $4,000. Which of the following will appear in the Financing Activities section of the statement of cash flows?
a.Dividends declared, $(48,000)
b.Cash paid for dividends, $(44,000)
c.Cash paid for dividends, $(52,000)
d.Change in dividends payable, $4,000
Homework Answers
Answer:
Option b) is correct. i.e Cash paid for dividends, $(44,000)
| Cash Flow from Financing Activities | |
| Amount($) | |
| Dividends declared during the year | 48,000 |
| dividends payable account increased by | 4,000 |
| Cash paid for dividends(48,000-4000) | 44,000 |
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