Question
Salahs net income for the year ended December 31, Year 2 was $197,000. Information from Salahs comparative balance sheets is given below. Compute the cash
Salahs net income for the year ended December 31, Year 2 was $197,000. Information from Salahs comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.
| At December 31 | Year 2 | Year 1 | ||||
| Common Stock, $5 par value | $ | 512,000 | $ | 460,800 | ||
| Paid-in capital in excess of par | 960,000 | 863,800 | ||||
| Retained earnings | 700,000 | 592,800 | ||||
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Cost Accounting A Decision Emphasis
Authors: Germain B. Boer, William L. Ferrara, Debra C. Jeter
4th Edition
0873939123, 978-0873939126
