Question
The balance in retained earnings at January 1, 2020 was $1,440,000 and at December 31, 2020 it was $1,900,000. Net income for 2020 was $670,000.
The balance in retained earnings at January 1, 2020 was $1,440,000 and at
December 31, 2020 it was $1,900,000. Net income for 2020 was $670,000.
During that same period, the change in the account Dividends Payable balance increased by $150,000.
What was the amount of cash dividends paid during 2020?
a. $60,000
b. $460,000
c. $210,000
d. Cannot be determined
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Guidelines For Auditing Process Safety Management Systems
Authors: CCPS (Center For Chemical Process Safety)
2nd Edition
0470282355, 978-0470282359
