The board of directors declared cash dividends totaling $80,000 during the current year The comparative balance sheet indicates dividends payable of $25,000 at the beginning of the year and $20,000 at the end of the year What was the amount of cash payments to stockholders during the year ...

Dividends declared 80000 Add decrease in dividends payable 5000 Dividends paid to stockholders ...

The board of directors declared cash dividends totaling $80,000 during the current year. The comparative balance sheet

Question:

The board of directors declared cash dividends totaling $80,000 during the current year. The comparative indicates dividends payable of $25,000 at the beginning of the year and $20,000 at the end of the year. What was the amount of cash payments to stockholders during the year?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...