Provide correct answer general accounting question The board of directors of Horizon Technologies declared cash dividends of$420,000 during the current year. If dividends payable was $110,000 at thebeginning of the year and $95,000 at the end of the year, how much cash was paidin dividends during the year?

Step 1: Define Cash Dividends PaidCash Dividends Paid represents the actual amount of dividends paid…

Answered: The board of directors of Horizon…

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 Horizon Technologies declared cash dividends of $420,000 during the current year. If dividends payable was $110,000 at the beginning of the year and $95,000 at the end of the year, how much cash was paid in dividends during the year?