Question

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?
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Please hit LIKE button if this helped.  
For any further explanation, please put your query in comment,  
will get back to you.
Beginning Dividend Payable $           135
Add: Dividend declared during the year $           899
Total Dividend outstanding $        1,034
Less: Ending Dividend Payable $          -165
Cash Dividend paid during the year $           869
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
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...
Buildex Corporation's balance sheet reported the following shareholders' equity as of December 31, 2021: Shareholders’ Equity...
Buildex Corporation's balance sheet reported the following shareholders' equity as of December 31, 2021: Shareholders’ Equity Share capital: Preferred shares, $ 4 cumulative, 30,000 shares                  authorized, 4,000 shares issued                                                       $   850,000 Common shares, unlimited shares authorized,                  175,000 shares issued                                                                           1,350,000 Total share capital                                                                                                 $ 2,000,000 Retained earnings                                                                                                        300,000 Total shareholders' equity                                                                                   $ 2,300,000 Additional information: No dividends were declared in the prior year - 2020. Dividends were fully paid in all...
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...
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....
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?
Compute the following journal entries: Declared and paid cash dividends to common shareholders, $6,000. Declared and...
Compute the following journal entries: Declared and paid cash dividends to common shareholders, $6,000. Declared and paid cash dividends to preferred shareholders, $2,000. Wrote off $1,450 of uncollectible accounts receivable. Sold equipment having an original cost of $30,000, and accumulated depreciation of $5,000 for $27,000 cash.
Flatfish Limited reported the following items in shareholders’ equity on December 31, 2020: Share capital: Preferred...
Flatfish Limited reported the following items in shareholders’ equity on December 31, 2020: Share capital: Preferred shares, $5 cumulative dividend, 162,000 shares issued    and outstanding $16,200,000 Share capital: Common shares, 708,000 issued and outstanding 28,320,000 Retained earnings 27,480,000 A) No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $5,226,600 were declared. Calculate how much would be paid to each class of shares. Preferred Common Total 2018 arrears 2019 arrears 2020 $Enter a total amount. $Enter...
Context Corporation reports the following components of shareholders’ equity on December 31, 2015.       Share Capital—Ordinary,...
Context Corporation reports the following components of shareholders’ equity on December 31, 2015.       Share Capital—Ordinary, $25 par value, 100,000 shares authorized,    40,000 shares issued and outstanding $ 1,000,000      Share Premium—Ordinary 70,000      Retained earnings 430,000      Total shareholders' equity $ 1,500,000   In year 2016, the following transactions affected its shareholders’ equity accounts. Jan. 1 Purchased 4,000 of its own shares at $15 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the...
3. As of December 31, 2023, Ajax Corporation reported the following: Dividends payable $25,000; Treasury stock...
3. As of December 31, 2023, Ajax Corporation reported the following: Dividends payable $25,000; Treasury stock $900,000; Paid-in capital--share repurchase $22,000; Other paid-in capital accounts $4,600,000; Retained earnings $3,010,000. During 2024, a third of the treasury stock was resold for $240,000; net income was $825,000; cash dividends declared were $1,000,000; and stock dividends of $550,000 were declared and distributed (no fractional shares). Hint: Use a T-account to help you organized these facts. What would total shareholders' equity be as of...
The shareholders' equity of Nick Co. includes the items shown below. The board of directors of...
The shareholders' equity of Nick Co. includes the items shown below. The board of directors of Nick declared cash dividends of $4 million, $8 million, and $50 million in each of its first 3 years of operation: 2016, 2017, and 2018, respectively. Preferred stock, 6%, at a total value of $100,000,000 Required: Determine the amount of dividends given to preferred and common shareholders during each of the three years. The preferred stock is cumulative and nonparticipating. 6%*100,000,000=6m-2m=4m Dividends paid Preferred...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT