The accountant for Robinson Company is preparing the company\'s statement of cas

Question

The accountant for Robinson Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year $167,000
Cash dividends declared for the year $46,000
Proceeds from the sale of equipment $84,000
Gain on the sale of equipment $9,000
Cash dividends payable at the beginning of the year $22,000
Cash dividends payable at the end of the year $43,000
Net income for the year $93,000

The amount of cash dividends paid during the year would be:
1. $78,000.
2. $46,000.
3. $25,000.
4. $13,000.
5. $83,000.

Explanation / Answer

Cash dividends payable at the beginning of the year $22,000 Add: Cash Dividend declared suring year $46,000 Less : Cash dividends payable at the end of the year $43,000 ----------------------------------------------------------------------------- Cash div paid during year : $25,000 So 3.$25000 is correct answer

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