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-   -   Journal entry for dividend declared and paid partially (https://www.askmehelpdesk.com/showthread.php?t=656103)

  • Apr 30, 2012, 10:19 PM
    Royjohn
    Journal entry for dividend declared and paid partially
    Company has declared dividend $545K on March'12 for the FY 2011.
    Paid out $250K in March'12 and balance payable is $295K. What are the double entries?
  • May 2, 2012, 11:51 AM
    pready
    To declare the dividend:
    Debit Retained Earnings for the amount declared
    Credit Dividends Payable for the amount declared

    To pay the dividends:
    Debit Dividends Payable for the amount paid
    Credit Cash for the amount paid

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