Journal entry of dividend declaration and its payment
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2016
Dear Experts,
Pls tell me the journal entry of dividend declaration and dividend payment?
Regards
Ashish
Pls tell me the journal entry of dividend declaration and dividend payment?
Regards
Ashish
12 December 2016
1. When dividend is proposed by company out of net profit.
Profit and Loss Appropriation Account Debit
Proposed Dividend Account Credit
2. When Proposed dividend is paid by Company
Proposed Dividend Account Debit
Bank Account Credit
3. When Dividend is Declared Out of Retained Earning
Retained Earning Account Debit
Dividend Account Credit
4. When Such Dividend is Paid
Dividend Account Debit
Bank Account Credit
Profit and Loss Appropriation Account Debit
Proposed Dividend Account Credit
2. When Proposed dividend is paid by Company
Proposed Dividend Account Debit
Bank Account Credit
3. When Dividend is Declared Out of Retained Earning
Retained Earning Account Debit
Dividend Account Credit
4. When Such Dividend is Paid
Dividend Account Debit
Bank Account Credit
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2016
Dear sir
Pls clarify what is profit & Loss appropriation account and in which group it will go....
Pls clarify what is profit & Loss appropriation account and in which group it will go....
04 June 2017
The main intention of preparing aprofit and loss appropriation accountis to show the distribution of profitsamong the partners. It is debited with interest on capital and remuneration to partners and credited with the netprofits b/d from the profit and loss account and interest on drawings.
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