The board of directors declared cash dividends totaling $80,000 during the current year. The comparative balance sheet

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The board of directors declared cash dividends totaling $80,000 during the current year. The comparative balance sheet indicates dividends payable of $25,000 at the beginning of the year and $20,000 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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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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