Computing Cash Paid for Dividends
Using the following information, compute cash paid for dividends.
|
Net income |
$10,000 |
|
|
|
End of Year |
Beginning of Year |
|
Retained earnings |
$112,000 |
$106,000 |
|
Paid in capital |
50,000 |
44,000 |
|
Cash |
1,300 |
1,000 |
|
Dividends payable |
200 |
450 |