Corporate Accounting
This query is : Resolved
01 May 2020
Sir I want to know the treatment of proposed dividend for nov 2020 exams..
05 May 2020
At the time of closure of books:
Proposed Dividend A/c Dr
To Provision for Dividend A/c ( liability)
**On Declaration reverse the above entry **
On the date of AGM when final dividend declared:
Proposed Dividend Dr.
To Final Dividend Payable
At the time of payment:
Final Dividend Payable A/c Dr.
To Shareholders A/c
Shareholders A/c Dr.
To Bank A/c
Proposed Dividend A/c Dr
To Provision for Dividend A/c ( liability)
**On Declaration reverse the above entry **
On the date of AGM when final dividend declared:
Proposed Dividend Dr.
To Final Dividend Payable
At the time of payment:
Final Dividend Payable A/c Dr.
To Shareholders A/c
Shareholders A/c Dr.
To Bank A/c
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