Question

dividend of rs 3700 received through bank journal

Answer 1

Answer:

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Explanation:

Dear for dividend received in cash the entry will be

Cash A/C - Dr

To Dividend Income A/C

(Being dividend income received in cash)

Explanation- When we received dividend in cash then our cash balance is increased and as per modern approach Cash A/C will be debited by amount of dividend received and this cash balance is shown in B/S under the head Cash and Bank Balance in Assets Side whereas since Dividend received is in the nature of income and as per modern approach whenever there is increase in income then that will be credited in SPL under other income head if dealing in share isn’t main business of the company since all income and expenditure is SPL item.

Answer 2

Answer:

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