Dividend account is the account used to record money paid on stock such as common stock, this comes out of retained earnings.
Expense accounts are expenses that the company has to maintain operation and come out of Revenue, before dividends are calculated. A company may choose to not pay dividends on stock for a year (or so) if the company's retained earnings do not meat a certain amount.
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
Normal Balance Debit: (Asset, Expense, Dividend) Accounts Receivable Inventory Equipment Supplies Prepaid Rent Prepaid Insurance Cash Supplies Expense Depreciation Expense Rent Expense Salaries Expense Cost of Goods Sold Normal Balance Credit: (Liability, Shareholder Equity, Revenue, Retained Earnings) Accounts Payable Salaries Payable Accumulated Depreciation Retained Earnings Unearned Revenue Service Revenue Common Stock
The 2 types of QuickBooks accounts are "Balance Sheet" accounts and "Income and Expense" accounts. Balance sheet accounts can be used to create and add to chart of accounts. Income and expense accounts track income sources and the purpose of each expense.
Temporary accounts are like your revenue, expense, owner's drawing accounts and the income summary. Permanent accounts are like your assets, liability, and most of owner's equity accounts.
Uncollectible Accounts Expense.
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
Normal Balance Debit: (Asset, Expense, Dividend) Accounts Receivable Inventory Equipment Supplies Prepaid Rent Prepaid Insurance Cash Supplies Expense Depreciation Expense Rent Expense Salaries Expense Cost of Goods Sold Normal Balance Credit: (Liability, Shareholder Equity, Revenue, Retained Earnings) Accounts Payable Salaries Payable Accumulated Depreciation Retained Earnings Unearned Revenue Service Revenue Common Stock
No journal entry for stock option until that stock option is not utilized by the employees or any person with stock option available to them.
The 2 types of QuickBooks accounts are "Balance Sheet" accounts and "Income and Expense" accounts. Balance sheet accounts can be used to create and add to chart of accounts. Income and expense accounts track income sources and the purpose of each expense.
Temporary accounts are like your revenue, expense, owner's drawing accounts and the income summary. Permanent accounts are like your assets, liability, and most of owner's equity accounts.
Uncollectible Accounts Expense.
[Debit] Dividend expense [Credit] Dividend payable 2nd entry at time of payment Debit Dividend payable Credit Cash
Accounts Payable is a liability. Accounts receivable is an asset.
Expense
No real accounts are for business possessions like assets and stock revenue and expense items are recorded in the nominal also named the general ledger. Personal accounts are for debtors and creditors accounts.
Accounts found on an Income Statement are : Cost of Sales, Sales Rev., Selling Expense and Wage Expense
1. Other revenue n expenses = dividend income - interest expese Other revenue and expense = 8500 - 6250 Other revenue = 2250