Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of the year. The amount of cash for the payment of dividends during the year is Oa. $35.000 Ob. $55.000 Oc. $40,000 Od. $50,000

Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of the year. The amount of cash for the payment of dividends during the year is Oa. $35.000 Ob. $55.000 Oc. $40,000 Od. $50,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 11E

See similar textbooks

Related questions

Q: The fixed budget for 20,300 units of production shows sales of $609,000; variable costs of $60,900;…

A: Fixed cost refers to those cost which remains same at every level of output i.e. it doesn't vary…

Q: Camila Company has set the following standard cost per unit for direct materials and direct labor.…

A: Standard costs are budgeted costs which are compared with the actual costs to compute the variances…

Q: Diego Company manufactures one product that is sold for $77 per unit in two geographic regions—the…

A: Absorption costing is the method of estimating the costs which includes the fixed overhead in the…

Q: Data table The company is segmented into five divisions: Paint Stores (branded retail location),…

A: "Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Perez Company is considering an investment of $30,485 that provides net cash flows of $9,000…

A: Internal Rate of Return: In the field of financial analysis, a statistic known as the internal rate…

Q: Part 1 Waterways uses time and material pricing when it bids on drainage projects. Budgeted data for…

Q: Santos Company is preparing a cash budget for February. The company has $19,000 cash at the…

A: The cash budget is prepared to estimate the cash balance and cash requirements for the period. The…

Q: Diego Company manufactures one product that is sold for $77 per unit in two geographic regions—the…

A: Under absorption costing, the fixed costs are deferred in ending inventory but in variable costing,…

Q: Prepare the entries for transaction below and indicate what journal it is 21 august issued a $600…

A: The primary and foremost reporting of the business transactions is to be done in the journal entry…

Q: Units to be assigned costs Fortress Steel Company has two departments, Casting and Rolling. In the…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single…

A: Factory overhead rate is the per hour or per unit rate which is to be multiplied with the number of…

Q: PROBLEM 2 You are revisiting the audit working paper presented to you by your audit staff in line…

A: You have asked various multiple choices questions and kindly resubmit remaining questions to get the…

Q: Preparation Department, predetermined rate of $6.70 per unit; Finishing Department, predetermined…

A: Product cost includes all cost incurred directly or indirectly in production of the goods. Such…

Q: Suppose that in the market for reserves, the discount rate is 6% and the federal funds rate is 6%.…

A: Securities - Securities are often divided into two categories: debt and equity. Equity securities…

Q: Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority…

Q: Q:Write introduction 0% plagiarism please Not assignment just a service question. And huge thanks.

A: Recycling is the process of collecting and processing items that would otherwise be discarded as…

Q: Package contribution margin Package contribution margin ratio Break-even point in units

A: This question belongs to the sales mix. The sales mix is a situation where a product is made with…

Q: As expected, ABC receives the goods from the supplier on April 30, 2021 and pays 100,000 yuan…

A: Forward Contact The implication of forward contract which can be easily overcome the risk of…

Q: Hannah Division of Tide Inc has the following data for 2012: Assets available for use is 2,000,000;…

A: Target Rate of return: It refers to the return that an investor would want to make from any capital…

Q: Beavis Construction Company was the low bidder on a construction project to build an earthen dam for…

A: Contract price - $1,870,000 2023 (in $) 2024 (in $) Costs incurred during the year 429,000…

Q: Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East…

A: Production budget It helps us to calculate the number of units of product that should be…

Q: Silver Enterprises has acquired All Gold Mining in a merger transaction. The following balance…

A: Balance sheet is a financial statement that represents all the assets, liabilities and stockholders…

Q: Determine the following ratios i) Current ratio ii) Acid test ratio iii) Average stock iv) Adjusted…

A: Here we Firstly find the Nature of all the elements given in question :— 1) Overdraft :— Borrow…

Q: Required 1 Prepare year-end adjusting entries. No descriptions are necessary. 2 Allocate partnership…

A: (Note :— “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the…

A: X Y XY X2 5 22 110 25 7 21 147 49 10 25 250 100 5 20 100 25 16 28 448 256 17 32 544 289…

Q: The cashier line of a canteen can facilitate up to 60 customers an hour. Frequenters of the canteen…

A: Introduction:- The following basic information as follows under:- Cashier line of a canteen can…

Q: You are the audit senior on the audit engagement of Brown’s Farm Produce. You have assigned the role…

A: Audit Procedure: A method for gathering and analyzing data in order to give proof is known as an…

Q: following is an extract from the trial balance of Tempo Ltd on 30 June 2022: £ Land and buildings…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Textra produces parts for a machine manufacturer. Parts go through two departments, Molding and…

A: Departmental Overhead Rate: An expenditure rate that is determined for each department in the…

Q: Can you please help me to find solution to question 2

A: Here asked for multi sub part question we will solve for first three sub part question for you. If…

Q: please question d) e) and F)

A: in order to calculate Weighted average cost of capital it is important to know the cost of capital…

Q: (a) Calculate the selling price of the study courses if the number of study courses sold and the…

A: Pricing Decisions are very crucial for any Business Entity as these decisions directly affect the…

Q: A computer lists for $ 600. 1. Find the trade discount if a discount rate of $ 10 is offered. 2.…

A: INTRODUCTION Rate is a fixed amount of money on which is something cost discount -is a…

Q: In 2019, Ulna Company borrowed P10,000,000 from Plenty Lending Company to finance the construction…

A: Here discuss about the details of the Restructure of the Notes Payable after incurred the financial…

Q: What amount will be presented on the balance sheet for fiscal 2020?

A: The present scenario is defined under Define Benefit Plans of Post employment Benefits para in IAS…

Q: Dr. Gulakowicz is an orthodontist. She estimates that adding two new chairs will increase fixed…

A: The Break-even point indicates the level of sales where the total cost is equal to total sales. It…

Q: Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority…

A: Since the manager of the club is able to increase sales by $72,000 and net operating income…

Q: Problem 7-1 Child Tax Credit (LO 7.1) Calculate the total 2021 child and other dependent credit for…

A: Child tax credit in 2021=(children ages 6 through 17)=$3,000 per qualifying child Other dependent…

Q: Calculate the net present value and profitability index of each machine. Assume a 9% discount rate.…

A: Net present value Net Present Value (NPV) is calculated by deducting the initial investment required…

Q: Assuming Janie's parents have AGI of $165,600, what is the American Opportunity tax credit they can…

A: The education tax credit means the tax credit that is provided by the American government on the…

Q: Shaw Company produced 860 units. Its overhead allocation base is DLH and its standard amount per…

A: Volume variance is the formula used in comparing the actual overheads with the standard set by the…

Q: What is the net book value of asset

A: Calculation given in next step Net book value is the historical cost of an asset minus the amount…

Q: On July 1, 2022, Mr. X incorporated a painting business near Green University of Bangladesh. Mr. X…

A: The double-entry accounting system becomes the base for the preparations of accounting equation. As…

Q: Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000…

A: The Explicit Cost is defined as the cost which is incurred outside the business, that is, something…

Q: Sky Co. employed Tom Mills in Year 1. Tom earned $5,300 per month and worked the entire yearAssume…

A: Tax refers to the financial charge which is compulsory in nature and it is imposed through the…

Q: QS 13-11 Accounting for cash dividends LO* Prepare journal entries to record the following…

A: The dividend has Debit balance and it is paid from the retained earnings of the business. The…

Q: Chambers Company has just gathered estimates for conducting a break-even analysis for a new product.…

A: The break even sales are the sales where the contribution equals to fixed cost and there is no…

Q: Standard Materials 6 unit $ 2 per unit Labor 1/4 hour 8 per hour Variable factory overhead 3/4 hour…

A: Introduction: A journal entry is documentation of a commercial transaction in a company's accounting…

Q: Functional-Based versus Activity-Based CostingFor years, Tamarindo Company produced only one…

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: nalysts pay so much attention to the Statements of Cash Flows versus the Income Statement?

A: Income statement shows the profit and loss over the period after deductions of expenses from the…

Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

100%

Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $15,000 at the end of
the year. The amount of cash for the payment of dividends during the year is
Oa. $35,000
Ob. $55,000
Oc. $40,000
Od. $50,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Net income and dividends The income statement of a corporation for the month of November indicates a net income of $90,000. During the same period, $100,000 in cash dividends were paid. Would it be correct to say that the business incurred a net loss of $10,000 during the month? Discuss.
Common stock transactions on the statement of cash flows Jones Industries received 600,000 from issuing shares of its common stock and 400,000 from issuing bonds. During the year, Jones Industries also paid dividends of 60,000. How are the effects of these transactions reported on the statement of cash flows?
Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?
Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
James Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the EPS for the year for James (rounded to the nearest dollar)?
Using the January 1 and December 31, 20Y8, data given in Question 10, answer the following question: If Sylvester Consulting paid $18,000 of dividends during 20Y8, what was the amount of net income for 20Y8?
Net income and dividends The income statement of a corporation for the month of February indicates a net income of $32,000. During the same period, $40,000 in cash dividends were paid. Would it be correct to say that the business Incurred a net loss of $8000 during the month? Discuss.
Net income and dividends The income statement for the month of February indicates a net income of 17,500. During the same period, 25,500 in cash dividends were paid. Would it be correct to say that the business incurred a net loss of 8,000 during the month? Discuss.
On April 2, West Company declared a cash dividend of $0.50 per share. There are 50,000 shares outstanding. What is the journal entry that should be recorded?
Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid a total of $3,000 in dividends and earned a net income of $60,000 this year. What is the ending retained earnings balance?