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What journal entries are passed as required declaration and payment of dividend?
Wiki User
∙ 9y ago
The date of declaration is the date which a resolution to pay cash dividends to stockholders of record on a specific future date is approved by board of directors.
Wiki User
∙ 9y ago
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What is the journal entry in the declaration of dividends?
The journal entries for different time periods are recorded as the following: 1 - When the dividend is declared: [Debit] Retained Earnings XXXX [Credit]Dividend Payable XXXX 2 - When the dividend is paid: [Debit] Dividend Payable XXXX [Credit] Cash/bank XXXX
What are the proper Accounting journal entries for dividends payable?
[Debit] Dividend expense [Credit] Dividend payable 2nd entry at time of payment Debit Dividend payable Credit Cash
How do the adjusting entries differ from othe journal entries?
Journal entries are those entries which are recorded first time when any transaction occured while adjusting entries are only recorded when there is any adjustment required in previously created journal entry.
Is a journal entry required on the date the board of directors officially approves a dividend?
Yes following entry required: [Debit] Proposed dividend [Credit] dividend payable
What is the difference between journal entries vs adjusting entries?
Journal entries are recorded as soon as financial transaction occures while adjusting entries are made to rectify the previously made journal entries.
What is the journal entry in the declaration of dividends?
The journal entries for different time periods are recorded as the following: 1 - When the dividend is declared: [Debit] Retained Earnings XXXX [Credit]Dividend Payable XXXX 2 - When the dividend is paid: [Debit] Dividend Payable XXXX [Credit] Cash/bank XXXX
How do the adjusting entries differ from othe journal entries?
Journal entries are those entries which are recorded first time when any transaction occured while adjusting entries are only recorded when there is any adjustment required in previously created journal entry.
What are the proper Accounting journal entries for dividends payable?
[Debit] Dividend expense [Credit] Dividend payable 2nd entry at time of payment Debit Dividend payable Credit Cash
Is a journal entry required on the date the board of directors officially approves a dividend?
Yes following entry required: [Debit] Proposed dividend [Credit] dividend payable
What wil be the journal entry of dividend received and reinvested?
If dividend received is reinvested then there is no journal entry is required and this information can be mentioned through the use of memo entry.There is no journal entry required for dividend received reinvested as nothing is received by person or company so memo entry is enough for information purpose.
What is the difference between journal entries vs adjusting entries?
Journal entries are recorded as soon as financial transaction occures while adjusting entries are made to rectify the previously made journal entries.
What journal entries are required for goodwill in a purchase?
debit goodwill accountcredit cash / bank account
What are Journal entries for a deposit included in rent income?
what the journal entries of stationery at hand
Should journal entries be listed chronologically?
Yes, all journal entries should be recorded in a order in which they occur so as per this all journal entries should be listed chronologically.
What are the proforma journal entries?
Proforma journal entries are hypothetical journal entries prepared before actual transactions occur. They help in understanding the potential impact of transactions on financial statements. These entries are used for forecasting and planning purposes.
What is the journal entry for dividend issue?
[Debit] Dividend [Credit] Cash
General journal entries?
. 1. Based on the bank reconciliation prepare the journal entries.. Alaine Alvarez consulting July 31
