The board of directors declared cash dividends totaling $364,000 during the current year The comparative balance sheet indicates dividends payable of $104,300 at the beginning of the year and $91,000 at the end of the year What was the amount of cash payments to stockholders during the year ...

The board of directors declared cash dividends totaling $364,000 during the current year. The comparative balance sheet

Question:

The board of directors declared cash dividends totaling $364,000 during the current year.
The comparative indicates dividends payable of $104,300 at the beginning of the year and $91,000 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...