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    Reeman2000's Avatar
    Reeman2000 Posts: 1, Reputation: 1
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    #1

    Feb 21, 2012, 01:12 PM
    How to journalize paid dividends?
    Can I get help by this Entry please ,

    The company paid dividends of $3,200.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 22, 2012, 08:15 AM
    First thing you need to know on this is when were the dividends declared:

    If dividends were declared in a previous accounting period the journal entry would have been:

    Debit Dividends for 3,200
    Credit Dividends Payable for 3,200

    Now the journal entry to pay the dividends would be:
    Debit dividends Payable for 3,200
    Credit Cash for 3,200

    If the Dividends are declared and paid in the same accounting period the journal entry will be:
    Debit Dividends for 3,200
    Credit Cash for 3,200
    jay garcia's Avatar
    jay garcia Posts: 1, Reputation: 1
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    #3

    Jun 28, 2012, 06:17 PM
    Is postage stamps added in the petty cash fund?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #4

    Jun 28, 2012, 06:47 PM
    Postage stamps can be purchased with petty cash.
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