Cash dividends of $78,312 were declared during the year. Cash dividends payablewere $12,000 and $13,834 at the beginning and end of the year, respectively.Determine the amount of cash for the payment of dividends during the year.

DIVIDEND PAYABLE Dividend Payable are those amount which is Payable to their Shareholders. Dividend…

Answered: Cash dividends of $78,312 were declared…

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

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Cash dividends of $78,312 were declared during the year. Cash dividends payable were $12,000 and $13,834 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.