Financial Statements from Incomplete Records
suman shil (33 Points)
07 July 2021
what is the Journal Entries and ledger posting for "Dividend on personal account deposited into bank ₹250"
3 Replies
prasad Nilugal
(3924 Points)
Replied 07 July 2021
If dividend not belong to business and same is of your personal in nature , then you have
credit to capital account . entry
Bank Account A/c Dr. 250/-
To proprietor capital A/c Cr 250/-
( being dividend received not belong to business)
Ledger posting
In Bank ledger - Debit side - To proprietor capital account A/c - 250/-
In proprietor capital account - credit side - By Bank A/!c Cr . 250-
credit to capital account . entry
Bank Account A/c Dr. 250/-
To proprietor capital A/c Cr 250/-
( being dividend received not belong to business)
Ledger posting
In Bank ledger - Debit side - To proprietor capital account A/c - 250/-
In proprietor capital account - credit side - By Bank A/!c Cr . 250-
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