example
Opening bal closing bal
Proposed divident 40,000 50,000
unclaimed divident 15,000 6000
Dividend paid Rs49,000.prepare following account.
1.Proposed account
2.Unclaimed divident account
Plz anyone help in solving above..
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Help plz
Replies (1)
This is in the way of accounting entries:
Assumption: Current year's proposed dividend = 50,000
1. Unclaimed dividend a/c Dr. 9000
Proposed dividend a/c Dr. 40,000
To Cash / Bank a/c. Cr. 49,000
2. Retained earnings or P& L A/c Dr. 50,000
To Proposed dividends a/c. cr. 50,000
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