Beginning assets were $700,000,beginning equity was $225,000,revenue for the year was $523,000,common stock issued during the year totaled $320,000,expenses for the year were $392,000,ending equity was $751,000,and ending assets were $963,000. What were the total dividends declared?

Question

Quizplus · Accepted Answer

Explanation:Total dividends declared = Ending equity - Beginning equity - Net income + Common stock issued= $751,000 - $225,000 - ($523,000 - $392,000) + $320,000= $751,000 - $225,000 - $131,000 + $320,000= $75,000

Beginning Assets Were $700,000,beginning Equity Was $225,000,revenue for the Year