Dividend journal entries
Querist : Anonymous
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
Querist : Anonymous
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