Crowdly
Add to Chrome
Spring 2025-11639-202510-ACC204-04 - Accounting Principles II
Looking for Spring 2025-11639-202510-ACC204-04 - Accounting Principles II test answers and solutions? Browse our comprehensive collection of verified answers for Spring 2025-11639-202510-ACC204-04 - Accounting Principles II at moodle.immaculata.edu.
Get instant access to accurate answers and detailed explanations for your course questions. Our community-driven platform helps students succeed!
On February 15, Jewel Company buys 7,700 shares of Marcelo Corporation at $28.60 per share. The stock is classified as a stock investment with insignificant influence. This is the company’s first and only stock investment. On March 15, Marcelo Corporation declares a dividend of $1.22 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corporation stock on November 17 of the current year for $29.37 per share. The fair value of the remaining 3,850 shares is $29.57 per share. The amount that Jewel Company should report in the asset section of its year-end December 31 balance sheet for its investment in Marcelo Corporation is:
The accountant for Systems Inc. is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
| Net income for the year | 270,000 |
|---|---|
| Cash dividends declared for the year | 50,000 |
| Cash dividends payable at the beginning of the year | 11,600 |
| Cash dividends payable at the end of the year | 13,400 |
What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows?