Determining Cash Payments toStockholdersThe board of directors declaredcash dividends totaling $153, 500 during the currentyear. The comparative balancesheet indicates dividendspayable of $39,900 at thebeginning of the year and $35,900 at the end of the year.What was the amount of cashpayments to stockholdersduring the year?

Step 1:To determine the cash payments to stockholders, we can use the following formula:Cash…

Answered: Determining Cash Payments to…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 11E

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Similar questions

The board of directors of Kendall Co. declared cash dividends totaling $390,000 during the current year. The comparative balance sheet indicates dividends payable of $58,000 at the beginning of the year and $73,000 at the end of the year. What was the amount of cash dividends paid during the year?
The board of directors of Tirico Corp. declared cash dividends of $260,000 during the current year. If dividends payable was $85,000 at the beginning of the year and $90,000 at the end of the year, how much cash was paid in dividends during the year?
The board of directors of Rinetti Spagettie Co. declared cash dividends totaling $375,000 and a stock dividend valued at $155,000 during the current year. The comparative balance sheet indicates dividends payable of $56,000 at the beginning of the year and $74,000 at the end of the year. What was the amount of cash payments the company made to stockholders during the year?
Salah's net income for the year ended December 31, Year 2 was $196,000. Information from Salah's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2. At December 31 Year 2 Year 1 Common Stock, $5 par value Paid-in capital in excess of par Retained earnings $ 511,000 $ 459,900 959,000 862,900 699,000 591,900
The following information was taken from the accounting records of ATLANTA Company for the year ended December 31, 2021: Net income during the year, P2,250,000Proceeds from the issuance of preference shares, P4,000,000Dividends paid on preference shares, P400,000Bonds payable converted to ordinary shares, P2,000,000Payment for purchase of machinery, P500,000Proceeds from sale of plant building, P1,200,000Retirement of bonds payable at face value, P2,500,0002% bonus issue on ordinary shares, P300,000Purchase of ordinary treasury shares, P120,000Payment for the purchase of debt securities at amortized cost, P450,000Gain on sale of plant building, P200,000Depreciation expense, P188,000Doubtful accounts expense, P87,000Increase in accounts receivable, P325,000Decrease in merchandise inventory, P129,000Increase in investments in equity securities at FVTPL, P440,000Increase in accounts payable, P90,000Decrease in accrued expenses, P225,000Increase in income tax payable, P117,000 How much is…
What is the amount of net income for the year?
Vishu
A summary of the transactions affecting the stockholders’ equity of Strait Corporation during thecurrent year follows: Prior period adjustment (net of income tax benefit) . . . . . . . . . . . . . . . . . . . . . . . . $ (80,000)Issuance of common stock: 10,000 shares of $10 par valuecapital stock at $34 per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340,000Declaration and distribution of 5% stock dividend (6,000 shares,market price $36 per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (216,000)Purchased 1,000 shares of treasury stock at $35 . . . . . . . . . . . . . . . . . . . . . . . . . (35,000)Reissued 500 shares of treasury stock at a price of $36 per share . . . . . . . . . . . 18,000Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 845,000Cash dividends declared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
Markus Company's common stock sold for $5.25 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 1,095,000 $ 635,100 $ 459,900 $ 313,875 $ 15,500 $ 208,862 Accounts receivable turnover Average collection period Answer is complete but not entirely correct. 13.62 26.76 days Ending Balance $ 49,000 $ 92,000 $ 76,300 $ 217,300 $ 801,000 $ 85,500 $ 206,000 $ 165,000 $ 595,000 $ 801,000 Beginning Balance $ 44,200 $ 68,700 $ 92,000 $ 204,900 $ 875,400 Foundational 14-9 (Algo) 9. What is the accounts receivable turnover and the average collection…
Markus Company's common stock sold for $6.50 per share at the end of this year. The company paid a common stock dividend of $0.91 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Connon stock,, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Ending Balance $ 57,500 $ 108,000 $ 83,500 $ 249,000 $ 975,000 $ 97, 500 $ 240,000 $ 185,000 $ 735,000 $ 975,000 Beginning Balance $ 50, 000 $ 75,000 $ 108,000 $ 233, 000 $ 1,886,000 $ 109, 500 $ 216,000 $ 185,000 $ 870, 000 $ 1,086,000 Sales (all on account) Cost of goods sold Gross margin Net operating incone Interest expense Net income This Year $ 1,275,e00 $ 739,500 $ 535, 500 $ 419, 250 $ 19,500 $ 279,825 Foundational 14-11 (Algo) 11, What is the company's operating cycle? (Use 365 days in a year. Round your intermediate and final answer to 2 decimal…
The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.

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