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Corporate Accounting

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(Querist)
01 May 2020 Sir I want to know the treatment of proposed dividend for nov 2020 exams..
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Asha Kanta Sharmapro badge online

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Asha Kanta Sharmapro badge online (Expert)
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

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