The account balances for the noncash current assets and current liabilities of J
ID: 2348228 • Letter: T
Question
The account balances for the noncash current assets and current liabilities of Jetson, Inc. are as follows:
December 31
2009 2010
Dividends payable $50,000 $40,000
Retained earnings $545,000 $375,000
Other information for 2009:
Determine the amount of cash dividends paid during the year for presentation in the Financing Activities section of the statement of cash flows.
Explanation / Answer
The account balances for the noncash current assets and current liabilities of Jetson, Inc. are as follows:
December 31
2009 2010
Dividends payable $50,000 $40,000
Retained earnings $545,000 $375,000
Other information for 2009:
Determine the amount of cash dividends paid during the year for presentation in the Financing Activities section of the statement of cash flows.