Dividend payable is the amount which is payable by the company to share holders so it is a liability of company and not an asset.
If your divident is the result of your own investment, it is an asset. Divident payable is a liability.
If dividend payable then liability if dividend receivable then it is asset if dividend paid then it is not part of balance sheet.
No,
yes
accounts payable is a liablity.
If your divident is the result of your own investment, it is an asset. Divident payable is a liability.
If dividend payable then liability if dividend receivable then it is asset if dividend paid then it is not part of balance sheet.
dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET dEBIT COST AS AN ASSET DEBIT EARNINGS IN ASSET CREDIT DIVIDENDS RECD IN ASSET
No,
yes
no
no
accounts payable is a liablity.
A mortgage is an asset to the mortgagee (lender).
The answer is no since there is no actual cash outflow at declaration date. Journal Entry at Declaration Date: Dr. Dividends/Retained Earnings xxx Cr. Dividends Payable xxx If you will prepare the cash flow statement using the indirect method, try to imagine the "Dividends" account as if an expense/nominal account. Start first with the net income, assuming only dividends is your transaction during the month... Net Loss (Dividends) (XXX) Increase in liability (dividends payable) XXX The impact is zero 0 *Rule is increase in asset (-), increase in liability (+) for the indirect method of cash flow statement.
Notes Payable - I hope that wasn't for an exam.
liability