Can anyone tell me the correct accounting entries for dividends paid within a privately owned ltd company and specifically how the 10% Tax is dealt with?:confused:
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Can anyone tell me the correct accounting entries for dividends paid within a privately owned ltd company and specifically how the 10% Tax is dealt with?:confused:
Set up a liability to pay dividends out of current year earnings. When paymnt is made credit cash/ dr. dividend payable
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