Answered: Your company declared $13,800 cash…

Your company declared $13,800 cash dividen dividends payable at the beginning of the year and $2,800 at the end of the much was paid in dividends during the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: A company's retained earnings increased $16,000 during the current year. What was the company's…

A: Retained earnings represent the accumulated profits or losses of a company that have not been…

Q: For the past four years, ABC reported the following annual net income and dividend amounts: Year…

A: Retained Earnings: When a company's direct and indirect expenses, income taxes, and dividends to…

Q: Coronado Industries began the year by issuing $103000 of common stock for cash. The company recorded…

A: Net Income is the difference between the sales revenue and the total Expenses. Sales Revenue =…

Q: 24.-Cash dividends of $75,356 were declared during the year. Cash dividends payable were $11,814 at…

A: Definition: Dividends: Distribution of company profits to the share holders on their investments is…

Q: Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the…

A: Dividend declaration is the method of distributing profits among the shareholders. The dividend may…

Q: The balance of retained earnings of Dragon Corporation at the beginning of the year was P650,000.…

A: The retained earnings are the net income of the business to be available for shareholders.

Q: The board of directors declared cash dividends totaling $223,700 during the current year. The…

A: Step 1:Computation of the amount of cash payments to stockholders during the year:Following…

Q: in its most recent financial statements, Nessler Inc. reported $75million of net income and…

A: Step 1: Identify the formula:Ending Retained Earnings = Beginning Retained Earnings + Net Income -…

Q: A company has current assets of $587,000 and current liabilities of $228,000. The board of directors…

A: Step 1: Meaning of current ratioCurrent ratio is the ratio of current assets to current liabilities.…

Q: Cash dividends of $50,000 were declared during the year. Cash dividends payable were $10,000 and…

Q: Cash dividends of $79,384 were declared during the year. Cash dividends payable were $10,045 at the…

A: The company pays dividends on the capital raised by issuing preferred and common stock. When a…

Q: The statement of stockholders' equity shows an $8,000 increase in the common stock account, a…

A: Net income is the amount of money earned by an entity after deducting the expenses from the…

Q: Willie Company's retained earnings increased $20,000 during the current year. What was Willie's…

A: STATEMENT OF SHAREHOLDERS EQUITYStatement of Shareholders Equity is also Known as Changes in…

Q: If Shareholders equity at the beginning of the year was $400,000 and $10,000 was paid to…

A: Shareholder’s equity: Equity shares held by share holders are called shareholders equity. Each share…

Q: Cash dividends of $84,300 were declared during the year. Cash dividends payable were $9,231 at the…

A: DECLARATION OF DIVIDENDSDividend is the amount paid by the Corporation its shareholders in return…

Q: KJ Inc. just reported a net income of 630 in its most recent year and paid a dividend of 390. If the…

A: Ending Balance of Retained Earnings = Beginning Balance + Net Income - Dividend

Q: The balance sheets of HR, Inc. reports total stockholders' equity of $500,000 and $650,000 at the…

A: Return on equity is the ratio which shows the earning capacity of the equity shareholders’ funds and…

Q: Ivan's, Inc., paid $460 in dividends and $575 in interest this past year. Common stock increased by…

A: Stockholders' equity: Stockholders' equity means the net assets available to shareholders after…

Q: In its recent income statement, Smith Software Inc. reported $19 million of net income, and in its…

A: Dividends refer to an amount of profit that is being earned by an organization from business…

Q: Denna Company's working capital accounts at the beginning of the year follow: $ 50,000 $ 30,000 Cash…

A: Current Ratio is a measure of short term debt paying ability of a company with its current assets.…

Q: Company A paid out $42,140 of common dividends during the year. It ended the year with $284,000 of…

A: Total Dividends = $42,140Ending retained earnings= $284,000 Beginning retained earnings = $220,000

Q: The Andrews Company has just issued $7,066,031 in dividends last year. The effect of this payment on…

A: Balance sheet is one of the financial statement that shows list of final ending balances of assets,…

Q: For the year , movers United has net income of $31,800 , net new equity of $7,500 , and an…

A: The amount of dividend paid can be calculated from the retained earnings added.

Q: a company had retained earnings of $40,000 at the beginning of the year, net earnings of $50,000,…

A: The dividend is declared to the shareholders from the retained earnings of the business. The net…

Q: in the firm's most recent financial statements, newhouse, inc. reported 57 mil usd of ni and 808 mil…

A: Let's say, RE represents retained earning, NI represents net income and D represents dividends…

Q: Electronics World Inc. paid out $42.6 million in total common dividends and reported $322 million of…

A: Net Income is the net earnings of the business. This is the difference between all revenues and all…

Q: AB Ltd.'s retained earnings increased by $184 during the year. Also during the year dividends of…

A: Retained earnings balance includes net income and the dividends paid out of the retained…

Q: For the year, I Company reports revenues of 800,000, expenses of 600,000, and dividends of 50,000.…

A: Retained earnings are the unallocated profits available for distribution to the shareholders. It is…

Q: Galveston Corporation’s ending balance of Retained Earnings increased by $2 million from the…

A: Dividend per share: Dividend per share is calculated for Preferred stock as well as Common Stock.…

Question

Your company declared $13,800 cash dividends on stock. There were St6,400 m
dividends payable at the beginning of the year and $2.800 at the end of the year. How
much was paid in dividends during the year?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A company has current assets of $616,000 and current liabilities of $221,000. The board of directors declares a cash dividend of $168,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend?
In its recent income statement, Smith Software Inc. reported $11 million of net income, and in its year-end balance sheet, Smith reported $392 million of retained earnings. The previous year, its balance sheet showed $381 million of retained earnings. What were the total dividends paid to shareholders during the most recent year? (Answers are in $ millions.) $18.00 $11.00 $11.00 -$2.00 $0.00
Windsor, Inc. began the year with retained earnings of $107000. During 2022, the company issued $79500 of common stock for cash. The company recorded revenues of $760000, expenses of $627000, and paid dividends of $38000. What was Windsor's net income for the year 2022? O $133000 O $95000 O $212500 O $174500
On Jan 1, Yag Co. started the year with 492,000 balance in Retained Earnings and 605,000 in Common stock. During the year, the company earned net income of 92,000, paid a dividend of 15,200 and issued more common stock for 27,500. What's the total stockholders' equity at the end of the year? Answer is 1,201,300. What is the process to get to this answer.
The opening balance of retained earnings for a company was $1328424. During the year it earned a net income of $509389 and shareholders invested an additional $613909 for shares. The ending balance of retained earnings was $1645010. How much did the company pay out in dividends during the year? Select one: a. $192803 b. $0 c. $806712 d. $104520
Cash dividends of $78,312 were declared during the year. Cash dividends payable were $12,000 and $13,834 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.
Cash dividends of $77,023 were declared during the year. Cash dividends payable were $10,060 and $13,132 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.Select the correct answer.$77,023 $66,963 $90,155 $73,951
At the beginning of the current year, Callifax Corporationhad dividends payable of $1,500,000. During the currentyear, the company declared cash dividends of $4,300,000, of which $900,000 appeared as a liability at year-end. Deter-mine the amount of cash dividends paid during this year.
During 2018 Bajery paid out $33,525 of common dividends. In ended the year with $187,500 of retained earning versus the prior's retained earnings of $159600. How much net income did the firm earn during the year?