New 10 eBook Show Me How Calculator Determining Cash Payments to Stockholders The board of directors declared cash dividends totaling $136,200 during the current year. The comparative balance sheet indicates dividends payable of $38,100 at the beginning of the year and $34,300 at the end of the year. What was the amount of cash payments to stockholders during the year? Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds: ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Credit Debit Credit Jan. 1 Balance 440,000 Jan. 2 Retire bonds 38,000 352,000 June 30 Issue bonds 264,000 616,000 Debit ACCOUNT Discount on Bond Payable ACCOUNT NO. Balance Date Item Credit Debit Credit 7,040 | Jan. Jan. June Dec 1 2 30 31 Balance Retire bonds Issue bonds Amortize discount 19,800 12,760 30,460 28,940 Item Section of statement of Cash Flows Added or Deducted Amount Retire bonds Issue bonds Amortization of discount 1:50 PM