Giving the following: Beginning RE $58,000 Ending RE $60,000 Liabilities $42,000 Net Income $75,000 What is...

Question

Question

Giving the following: Beginning RE $58,000 Ending RE $60,000 Liabilities $42,000 Net Income $75,000 What is the amount of Dividend paid?

Answer 1

Answer #1

Ending retained earnings=Beginning retained earnings+Addition to retained earnings

Addition to retained earnings=(60,000-58000)

=$2000

Addition to retained earnings=Net income-Dividends paid

Dividends paid=75000-2000

=$73000

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Answer 2

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