If a company declared and paid a special year-end 10 cents per share on the 150,000 shares of stock outstanding. Issue check number 509. How would the journal entry go?
ROLCAM
May 10, 2009, 05:59 AM
DEBIT Dividends Paid Account $15,000
CREDIT Bank Account ************$15,000
Being special dividend declared and paid @ 10c
A share on 150,000 shares by cheque no.509