Question

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

Cash dividends of $84,300 were declared during the year. Cash dividends payable were $9,231 at the beginning of the year and $15,738 at the end of the year. The amount of cash for the payment of dividends during the year is

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Cash dividends declared = $84,300

Dividends payable, beginning = $9,231

Dividends payable, ending = 15,738

Cash payment of dividend = Dividends payable, beginning + Cash dividends declared - Dividends payable, ending

= 9,231 + 84,300 - 15,738

= $77,793

The amount of cash for the payment of dividends during the year is = $77,793

kindly give a positive rating if you are satisfied with the solution. Please ask if you have any query related to the question, Thanks.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $112,300 during the...
Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $112,300 during the current year. The comparative balance sheet indicates dividends payable of $31,400 at the beginning of the year and $28,300 at the end of the year. What was the amount of cash payments to stockholders during the year?
On November 20 the company declared cash dividends of $15,000. The dividends were paid on December...
On November 20 the company declared cash dividends of $15,000. The dividends were paid on December 21. Make the journal entries necessary to record both events. Which ONE of the following should be included in the journal entry necessary to record the PAYMENT of the dividends on December 21? DEBIT Cash for $15,000 DEBIT Operating Expenses for $15,000 DEBIT Common Stock at Par for $15,000 DEBIT Paid-in Capital in Excess of Par for $15,000 DEBIT Dividends Payable for $15,000
A firm declared and reported in the statement of shareholders’ equity an amount of dividends of...
A firm declared and reported in the statement of shareholders’ equity an amount of dividends of $899 in 2016. Dividends payable in 2016 and 2015 were $165 and $135 respectively, what is the amount of cash dividends paid by the firm in 2016?
Cash dividends declared on the no par value common shares of Athens Corp. were as follows:...
Cash dividends declared on the no par value common shares of Athens Corp. were as follows: 1st quarter of 2020 $330,000 2nd quarter of 2020 350,000 3rd quarter of 2020 420,000 4th quarter of 2020 450,000 The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9, 2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares...
The shareholders equity of Kramer Industries includes the data shown below. During 2022, cash dividends of...
The shareholders equity of Kramer Industries includes the data shown below. During 2022, cash dividends of $150 million were declared. Dividends were not declared in 2020 or 2021. Common Stock $200 Paid-in Capital-excess of par, common 800 Preferred stock, 10%, nonparticipating 100 Paid-in capital-excess of par, preferred 270 Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock. Show JE's at declaration...
Assume that the following amounts are known for Colten Company for the current year: Retained Earnings,...
Assume that the following amounts are known for Colten Company for the current year: Retained Earnings, beginning balance $210,000 Retained Earnings, ending balance 250,000 Net income 115,000 Fair value of large stock dividend declared 25,000 Dividend Payable, beginning balance 75,000 Dividend Payable, ending balance 80,000 Required 1. Assume that the only other amount that affected Retained Earnings during the year was a cash dividend that was declared. Compute the amount of the cash dividend declared during the current year. 2....
Shareholders’ Equity Preferred shares cash dividends have been declared and paid. Common share cash dividends have...
Shareholders’ Equity Preferred shares cash dividends have been declared and paid. Common share cash dividends have been declared, but not paid. HEMI’s board of directors declared a 10% common stock dividend on November 1, 2019. Common shares for the stock dividends were issued to the existing common shareholders on December 30, 2019. However, the transaction has not been recorded in HEMI’s accounting records. HEMI is authorized to issue 50,000,000 common shares. HEMI issued 12,000,000 common shares on January 2, 2019...
The shareholders’ equity of Kramer Industries includes the data shown below. During 2019, cash dividends of...
The shareholders’ equity of Kramer Industries includes the data shown below. During 2019, cash dividends of $220 million were declared. Dividends were not declared in 2017 or 2018. ($ in millions) Common stock $ 260 Paid-in capital—excess of par, common 1,040 Preferred stock, 10%, nonparticipating 130 Paid-in capital—excess of par, preferred 390 Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock....
Vaquita reported net income for the year of $1,810,000 and declared dividends of $453,000. At the...
Vaquita reported net income for the year of $1,810,000 and declared dividends of $453,000. At the beginning of the year, the company had 906,000 shares of common stock and no shares of preferred stock outstanding, and at the end of the year they had sold an additional 1,558,320 shares of common stock. What should Vaquita report as EPS for the period?
As of December 31, 2018, Warner Corporation reported the following:    Dividends payable $ 34,000 Treasury...
As of December 31, 2018, Warner Corporation reported the following:    Dividends payable $ 34,000 Treasury stock 740,000 Paid-in capital—share repurchase 34,000 Other paid-in capital accounts 5,400,000 Retained earnings 4,400,000    During 2019, half of the treasury stock was resold for $268,000; net income was $740,000; cash dividends declared were $1,640,000; and stock dividends declared were $640,000.    What would shareholders' equity be as of December 31, 2019?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT