1) The board of directors of Kendall Co. declared cash dividends totaling $390,000 during the current year....
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1) The board of directors of Kendall Co. declared cash dividends totaling $390,000 during the current year. The comparative balance sheet indicates dividends payable of $58,000 at the beginning of the year and $73,000 at the end of the year.
What was the amount of cash paid for dividends during the year?
2) Cost of goods sold reported on the income statement was $155,000. The accounts payable balance increased by $8,000, and the inventory balance increased by $21,000 over the year.
Determine the amount of cash payments for merchandise.
Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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