# The board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dividends payable of$167,625 at the beginning of the year and $146,250 at the end of the year. What was the amount of cash payments to stockholders during the year? BuyFindarrow_forward ### Financial Accounting 15th Edition Carl Warren + 2 others Publisher: Cengage Learning ISBN: 9781337272124 #### Solutions Chapter Section BuyFindarrow_forward ### Financial Accounting 15th Edition Carl Warren + 2 others Publisher: Cengage Learning ISBN: 9781337272124 Chapter 16, Problem 8E Textbook Problem 42 views ## The board of directors declared cash dividends totaling$585,000 during the current year. The comparative balance sheet indicates dividends payable of $167,625 at the beginning of the year and$146,250 at the end of the year. What was the amount of cash payments to stockholders during the year?

To determine

Determine amount of cash (dividends) paid to stockholders during the year.

### Explanation of Solution

Working note: Calculate the amount of increase or decrease in dividends payable.

(IncreaseÂ orÂ decreaseÂ individendsÂ payableÂ )=Â (BeginningÂ balanceÂ ofÂ dividendsÂ payableÂ -EndingÂ balance&#

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