Question

Print Item Calculator Show Me How Office 365 eBook Determining cash payments to stockholders The board of directors declared cash dividends totaling $1,500,000 during the current year. The comparative balance sheet indicates dividends payable of $210,000 at the beginning of the year and $130,000 at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. Open spreadsheet What was the amount of cash payments to stockholders during the year? Round your answer to the nearest dollar.

Answer 1

Calculation of Amount of Cash Payment to Shareholders:-

Dividend Payable beginning balance $210,000

Add: Dividend declared during the year $1,500,000

Dividend Payable ending balance ($130,000)

Amount of Cash Payment $1,580,000

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