At the beginning of the current year,ABC Corporation had dividends payable of Rs

Finance Jan 16, 2021

At the beginning of the current year,ABC Corporation had dividends payable of Rs. 1,600,000. During the current year, the company declared cash dividends of Rs. 4,200,000, of which Rs. 1200, 000 appeared as a liability at year-end. Determine the amount of cash dividends paid during this year

I need solution with proper calculations

Expert Solution

Computation of Amount of Cash Dividends Paid:

Amount of Cash Dividends Paid = Beginning Dividend Payable + Dividends Declared - Ending Dividend Payable

= 1,600,000 + 4,200,000 - 1,200,000

Amount of Cash Dividends Paid = 4,600,000

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