Accountancy, asked by amitgupta533422, 7 months ago

(v) Dividend received through cheque *650

Answers

Answered by Mehak005

13

Accounting for Cash Dividends When Only Common Stock Is Issued. The journal entry to record the declaration of the cash dividends involves a decrease (debit) to Retained Earnings (a stockholders' equity account) and an increase (credit) to Cash Dividends Payable (a liability account).

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