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The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:         Retained earnings balance at the beginning of the year $ 989,000 Net income for the year   315,000 Cash dividends declared for the year   59,000 Retained earnings balance at the end of the year   1,517,000 Cash dividends payable at the beginning of the year   13,400 Cash dividends payable at the end of the year   16,100   What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows

The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:         Retained earnings balance at the beginning of the year $ 989,000 Net income for the year   315,000 Cash dividends declared for the year   59,000 Retained earnings balance at the end of the year   1,517,000 Cash dividends payable at the beginning of the year   13,400 Cash dividends payable at the end of the year   16,100   What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows

FINANCIAL ACCOUNTING
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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The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
 

     
Retained earnings balance at the beginning of the year $ 989,000
Net income for the year   315,000
Cash dividends declared for the year   59,000
Retained earnings balance at the end of the year   1,517,000
Cash dividends payable at the beginning of the year   13,400
Cash dividends payable at the end of the year   16,100
 


What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?

The accountant for Sysco Company is preparing the company’s statement of cash flows for the fiscal year just ended. The following information is available: - **Retained earnings balance at the beginning of the year:** $989,000 - **Net income for the year:** $315,000 - **Cash dividends declared for the year:** $59,000 - **Retained earnings balance at the end of the year:** $1,517,000 - **Cash dividends payable at the beginning of the year:** $13,400 - **Cash dividends payable at the end of the year:** $16,100 **Question:** What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
Transcribed Image Text:The accountant for Sysco Company is preparing the company’s statement of cash flows for the fiscal year just ended. The following information is available: - **Retained earnings balance at the beginning of the year:** $989,000 - **Net income for the year:** $315,000 - **Cash dividends declared for the year:** $59,000 - **Retained earnings balance at the end of the year:** $1,517,000 - **Cash dividends payable at the beginning of the year:** $13,400 - **Cash dividends payable at the end of the year:** $16,100 **Question:** What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
**Question:** What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? **Multiple Choice Options:** - $59,000. - $61,700. - $88,500. - $2,700. - $56,300.
Transcribed Image Text:**Question:** What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? **Multiple Choice Options:** - $59,000. - $61,700. - $88,500. - $2,700. - $56,300.
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