Melanie Corporation declared cash dividends of $15,300 during the current year. The beginning and ending balances...
Melanie Corporation declared cash dividends of $15,300 during the current year. The beginning and ending balances in dividends payable were $630 and $1,050, respectively. What was the amount of cash paid for dividends?
Homework Answers
Ending dividends payable=Beginning dividends payable+dividends declared-Cash paid for dividends
1050=630+15300-Cash paid for dividends
Cash paid for dividends=630+15300-1050
=$14880.
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