Journal entry of dividend declaration

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 Dear Experts,
There is doubt in my mind..
pls clarify if possible..

Our company final accounts was present
In AGM however the directors has declared
Rs. 2 lakh dividend and the same has been
Paid to share holders within 30 days..
pls guide me as the accounts has already
Been finalised then how the journal
Entry for declaring dividend & paid the
Same would be done in finalised accounts,

Regard
Sameer jain

Rupesh Jain

Rupesh Jain (Expert)

17 May 2016 dividend declared a/c
to dividend payable
to Tds payable

on payment.

dividend payable a/c
TDs payable a/c
to Bank A/c

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 Sir.. passing accounting entry was not
my query.. my query was... finalised
Accounts was present in AGM and the
Directors has declared the dividend Rs. 2
Lakh.. pls tell me how the accounting
entry will be pass which you have suggest
Earlier if the accounts has already been
Finalised thereof.....

Rupesh Jain

Rupesh Jain (Expert)

17 May 2016 dividend was proposed by the director in director meeting when they approve auditor report and final financial statement of the company.

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2016 Do you mean to say auditor will finalise
The accounts & its report and same will
Be present to board of directors in AGM
Then directors will approve the same or
Weather they want to declare dividend if
they want after that the accounts would be
Fully finalised and all the statotory due will
Be paid like IT, DDT etc,

Is this correct point of view.....

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