Memorial Corporation
Information from the financial records is presented below:
-Refer to Memorial Corporation. How much cash was paid for dividends during 2020?
A)$40,000
B)$50,000
C)$60,000
D)$80,000

Question

Memorial Corporation
Information from the financial records is presented below: 
-Refer to Memorial Corporation. How much cash was paid for dividends during 2020?
A)$40,000 
B)$50,000 
C)$60,000 
D)$80,000

Quizplus · Accepted Answer

The cash dividends paid during 2020 can be found by looking at the Statement of Cash Flows. Under the financing activities section, the line item "Dividends Paid" shows a total of $60,000. Therefore, the correct answer is choice C.

Memorial Corporation Information from the Financial Records Is Presented Below