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    Spadoon's Avatar
    Spadoon Posts: 2, Reputation: 1
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    #1

    Apr 23, 2013, 04:20 PM
    Journal entry for dividends paid
    The board of directors declared a $2.30 per-share cash dividend payable on January 14 to stockholders of record on December 26. No previous entries were done for dividends payable or declared dividends. Do I need to do an adjusting entry?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Apr 24, 2013, 11:47 AM
    On Dec 26 you need to record the dividends declared and your Credit will be to dividends payable. Your amount will be $2.30 times number of shares outstanding at Dec 26.
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