Determining Cash Paid to StockholdersThe board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dívidends payable of $167,625 at the beginning of theyear and $146,250 at the end of the year.What was the amount of cash paid to stockholders during the year?%$4%24

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Description: Determining Cash Paid to StockholdersThe board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dívidends payable of $167,625 at the beginning of theyear and $146,250 at the end

Cash paid to stockholders = Begining balance + Dividend - Closing balance at theend of yearCash paid to stockholders = $167,625+$585,000 - $146,250 =606,375

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Determining Cash Paid to Stockholders The board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dividends payable of $167,625 at the beginning of the year and $146,250 at the end of the year. What was the amount of cash paid to stockholders during the year?

Determining Cash Paid to Stockholders The board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dividends payable of $167,625 at the beginning of the year and $146,250 at the end of the year. What was the amount of cash paid to stockholders during the year?

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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