The board of directors declared cash dividends totaling $120,000 during the current year. The comparative balance sheet
Question:
The comparative balance sheet indicates dividends payable of $35,000 at the beginning of the year and $30,000 at the end of the year. What was the amount of cash payments to stockholders during the year?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Dividends declared 120000 Add decrease in dividends payable 5000 Dividends paid to stockholders ...View the full answer
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Related Book For 
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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