Hi
Can you please refresh me wich are the debits and credits for the following transactions:


Declared Dividends
Paid Dividends


Also I need the account classification, i.e. assets,liabilty, equity, income or expense

For Example:
If one business declared dividends for $10,000, how I record the transaction, what are the accounts affected and wich is the account classification and thereof how it will be presented on the statements

I Thinks it is

Dividends (equity)
Dividends Payable (liabilty)

Dividends Payable (liabilty)
Cash (asset)

The transaction will be presented on the Balance Sheet

Can you please refresh me which are the debits and credits?

DEBITS = ALL ASSETS + ALL EXPENSES
CREDITS = ALL LIABILITIES + ALL INCOMES

FORMULA = A + E = L + I

Please remember this for ever.
You will never go wrong again.

ALSO.

Equity is another form of a LIABILITY .