Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Chapter 15, Problem 11E
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Determine the amount of cash (dividends) paid to stockholders during the year.
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The board of directors declared cash dividends total $168,000 during the year. The comparative balance sheet indicated dividends payable of $46,000 at the beginning of the year and $42,000 at the end of the year. What was the amount of cash payments to stockholders during the year?
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Chapter 15 Solutions
Managerial Accounting
Ch. 15 - Prob. 1DQCh. 15 - Prob. 2DQCh. 15 - Prob. 3DQCh. 15 - Prob. 4DQCh. 15 - Prob. 5DQCh. 15 - Prob. 6DQCh. 15 - Prob. 7DQCh. 15 - Fully depreciated equipment costing 50,000 was...Ch. 15 - Prob. 9DQCh. 15 - Prob. 10DQ
Ch. 15 - Prob. 1BECh. 15 - Prob. 2BECh. 15 - Prob. 3BECh. 15 - Prob. 4BECh. 15 - Land transactions on the statement of cash flows...Ch. 15 - Prob. 6BECh. 15 - Prob. 7BECh. 15 - Prob. 8BECh. 15 - Prob. 9BECh. 15 - Prob. 1ECh. 15 - Effect of transactions on cash flows State the...Ch. 15 - Prob. 3ECh. 15 - Prob. 4ECh. 15 - Cash flows from operating activitiesindirect...Ch. 15 - Prob. 6ECh. 15 - Prob. 7ECh. 15 - Reporting changes in equipment on statement of...Ch. 15 - Reporting changes in equipment on statement of...Ch. 15 - Prob. 10ECh. 15 - Prob. 11ECh. 15 - Prob. 12ECh. 15 - Prob. 13ECh. 15 - Prob. 14ECh. 15 - Prob. 15ECh. 15 - Prob. 16ECh. 15 - Statement of cash flowsindirect method The...Ch. 15 - Prob. 18ECh. 15 - Prob. 19ECh. 15 - Prob. 20ECh. 15 - Prob. 21ECh. 15 - Prob. 22ECh. 15 - Prob. 1PACh. 15 - Statement of cash flowsindirect method The...Ch. 15 - Prob. 3PACh. 15 - Prob. 4PACh. 15 - Statement of cash flowsdirect method applied to PR...Ch. 15 - Prob. 1PBCh. 15 - Prob. 2PBCh. 15 - Prob. 3PBCh. 15 - Statement of cash flowsdirect method The...Ch. 15 - Statement of cash flowsdirect method applied to PR...Ch. 15 - Prob. 1MADCh. 15 - Prob. 2MADCh. 15 - Prob. 3MADCh. 15 - Prob. 4MADCh. 15 - Prob. 5MADCh. 15 - Prob. 1TIFCh. 15 - Financial condition Tidewater Inc., a retailer,...Ch. 15 - Prob. 4TIF
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- 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?arrow_forwardThe income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.arrow_forwardDetermining Cash Paid to Stockholders The board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicates dívidends 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 paid to stockholders during the year? %$4 %24arrow_forward
- Assuming a company has net income for the year, the end of year dollar balance in the "Total Stockholders' Equity" column of the statement of stockholders' equity should exactly match which of the following: Select one: a. The total cash balance on the balance sheet b. The total paid-in capital balance on the balance sheet c. The total liabilities balance on the balance sheet d. the total stockholders' equity balance on the balance sheet e. The total assets balance on the balance sheet f. The net income amount on the income statementarrow_forwardThe board of directors of Tirico Corp. declared cash dividends of $260,000 during the current year. If dividends payable was $85,000 at the beginning of the year and $90,000 at the end of the year, how much cash was paid in dividends during the year?arrow_forwardEntries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $375,000 on a corporation’s common stock are October 1, November 7, and December 15arrow_forward
- 24.-Cash dividends of $75,356 were declared during the year. Cash dividends payable were $11,814 at the beginning of the year and $14,402 at the end of the year. The amount of cash for the payment of dividends during the year isarrow_forwardCash dividends of $77,023 were declared during the year. Cash dividends payable were $10,060 and $13,132 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.Select the correct answer.$77,023 $66,963 $90,155 $73,951arrow_forwardFact Pattern: Jensen Corporation’s board of directors met on June 3 and declared a regular quarterly cash dividend of $.40 per share for a total value of $200,000. The dividend is payable on June 24 to all stockholders of record as of June 17. Excerpts from the statement of financial position for Jensen Corporation as of May 31 are presented as follows. Cash $ 400,000 Accounts receivable (net) 800,000 Inventories 1,200,000 Total current assets $2,400,000 Total current liabilities $1,000,000 Assume that the only transactions to affect Jensen Corporation during June are the dividend transactions. Question Jensen’s quick (acid test) ratio would be A.Decreased by the dividend declaration and increased by the dividend payment. B.Unchanged by the dividend declaration and decreased by the dividend payment. C.Unchanged by either the dividend declaration or the dividend payment. D.Decreased by the…arrow_forward
- During its first year of operations, Flounder Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 75,000 shares for cash at $6 per share. July 1 Issued 41,000 shares for cash at $9 per share. What is the date? What is the account title or explanation ? What is debit or credited ?arrow_forwardHow to journalize a cash dividend with multiple dates The declaration, record, and payment dates in connection with a cash dividend of $1,250,000 on a corporation’s common stock are July 9, August 31, and October 1arrow_forwardCash dividends of $72,033 were declared during the year. Cash dividends payable were $9,850 at the beginning of the year and $14,768 at the end of the year. The amount of cash paid for dividends during the year is a. $67,115 b. $62,183 c. $72,033 d. $86,801arrow_forward
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