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sweet [91]
4 years ago
7

Salah’s net income for the year ended December 31, Year 2 was $191,000. Information from Salah’s comparative balance sheets is g

iven below. Compute the cash paid for dividends during Year 2. At December 31 Year 2 Year 1 Common Stock, $5 par value $ 506,000 $ 455,400 Paid-in capital in excess of par 954,000 858,400 Retained earnings 694,000 587,400
Business
1 answer:
11Alexandr11 [23.1K]4 years ago
4 0

Answer:

Salah

Cash Dividends during Year 2:

= $84,400

Explanation:

a) Data and Calculations:

Dividends Paid:

Year 1 Retained earnings =  $587,400

Year 2 Net Income =                191,000

Year 2 Retained earnings = (694,000)

Dividends paid =                    $84,400

b) Salah paid dividends worth $84,400.  These represent the difference between the beginning retained earnings with the year 2's net income and the year 2's retained earnings.  It is a reduction of the retained earnings after adding the net income for the year.

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3 years ago
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soldier1979 [14.2K]

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7 0
4 years ago
Based on its perceived riskiness, the annual required rate of return is 11.5% for shares of Cyberdyne Inc. The company just paid
Ugo [173]

Answer:

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Explanation:

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4 0
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Answer:

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