Problemthe board of directors declared cash dividends, Ask an Expert

Accounting

Problem:

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.

Required:

Question: What was the amount of cash payments to stockholders during the year?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165898

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