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    farmerdl's Avatar
    farmerdl Posts: 1, Reputation: 1
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    #1

    May 10, 2009, 04:36 AM
    Declared Dividends
    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's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    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
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