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Dividend journal entries

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 June 2013 dear Sir
Please rectify my entry if it is wrong.
at the time of proposed Dividend on 25-Mar-2013 5% on net profit. Can I make the following entry

Dividend Expenditure (retained Earnings) Dr
To Dividend Payable Cr

On 2-May-2013 the dividend paid

Dividend Payable (C.Liabilities)Dr
To Bank

Is these entries and Head of account are right?

Urgent reply please help
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Rupesh Jain

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Rupesh Jain (Expert)
15 June 2013 ok this is right
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Querist : Anonymous

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Querist : Anonymous (Querist)
15 June 2013 Thank you Very much Sir




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