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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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?
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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…
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Shown as follows are the amounts from the stockholders' equity section of the balance sheets of Wasson Corporation for the years ended December 31, 2020 and 2021. Stockholders' equity: Capital Stock Retained Earnings Total stockholders' equity a. b. 2021 2020 $50,000 $30,000 200,000 180,000 $250,000 $210,000 Calculate the amount of additional investment that the stockholders made during 2021. Assuming that the corporation declared and paid $15,000 in dividends during 2021, calculate the amount of net income earned by the corporation during 2021. c. Explain the significance of the $200,000 balance of retained earnings at December 31, 2021.
Cc. 215.
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