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The accountant for Sysco 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 $ 989,000 Net income for the year   315,000 Cash dividends declared for the year   59,000 Retained earnings balance at the end of the year   1,517,000 Cash dividends payable at the beginning of the year   13,400 Cash dividends payable at the end of the year   16,100   What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows

The accountant for Sysco 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 $ 989,000 Net income for the year   315,000 Cash dividends declared for the year   59,000 Retained earnings balance at the end of the year   1,517,000 Cash dividends payable at the beginning of the year   13,400 Cash dividends payable at the end of the year   16,100   What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows

Financial Accounting Intro Concepts Meth/Uses
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter6: Statement Of Cash Flows
Section: Chapter Questions
Problem 20E
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The accountant for Sysco 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 $ 989,000
Net income for the year   315,000
Cash dividends declared for the year   59,000
Retained earnings balance at the end of the year   1,517,000
Cash dividends payable at the beginning of the year   13,400
Cash dividends payable at the end of the year   16,100
 


What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?

The accountant for Sysco 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 Net income for the year 2$ 989,000 315,000 Cash dividends declared for the year Retained earnings balance at the end of the year Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year 59,000 1,517,000 13,400 16,100 What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
Transcribed Image Text:The accountant for Sysco 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 Net income for the year 2$ 989,000 315,000 Cash dividends declared for the year Retained earnings balance at the end of the year Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year 59,000 1,517,000 13,400 16,100 What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?
What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? Multiple Choice $59,000. $61,700. $88,500. $2,700. $56,300.
Transcribed Image Text:What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? Multiple Choice $59,000. $61,700. $88,500. $2,700. $56,300.
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