Question

Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $209,800 during the current year. The comparative balance sheet indicates dividends payable of $50,400 at the beginning of the year and $45,400 at the end of the year. What was the amount of cash payments to stockholders during the year?

Answer 1

$214,800

Step-by-step explanation:

The amount paid is the sum of the amount declared and the difference in amounts payable.

dividends paid = $209,800 +50,400 -45,400

dividends paid = $214,800