Solving for stockholders equity amounts

Reference no: EM13954416

Solving for Stockholders' Equity Amounts

Assume that the following amounts are known for Colten Company for the current year:

Retained Earnings, beginning balance	$210,000
Retained Earnings, ending balance	250,000
Net income	115,000
Fair value of large stock dividend declared	25,000
Dividend Payable, beginning balance	75,000
Dividend Payable, ending balance	80,000

Required

1. Assume that the only other amount that affected Retained Earnings during the year was a cash dividend that was declared. Compute the amount of the cash dividend declared during the current year.

2. Compute the amount of cash dividends actually paid in cash to stockholders during the year.

Reference no: EM13954416

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