At 12/31/X1, Suiza Inc. had $250 in assets and $130 in liabilities. For the year ended 12/31/X1, net income was $45. During 20X1, $10 in common stock was issued, liabilities decreased $15, assets increased $10, and dividends were declared. The only accounts in Stockholders' Equity for Suiza are Common Stock and Retained Earnings. What were total dividends declared during 20X1? A $80 B $60 C $55 D $35 E $30

At 12/31/X1, Suiza Inc. had $250 in assets and $130 in liabilities. For the year ended 12/31/X1, net income was $45. During 20X1, $10 in common stock was issued, liabilities decreased $15, assets increased $10, and dividends were declared. The only accounts in Stockholders' Equity for Suiza are Common Stock and Retained Earnings. What were total dividends declared during 20X1? A $80 B $60 C $55 D $35 E $30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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