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    Freca's Avatar
    Freca Posts: 1, Reputation: 1
    New Member
     
    #1

    Oct 4, 2009, 11:24 AM
    Declared Dividends
    If the company declare dividends for 32,000 on December 13,2009 but this dividend are payable to the common shareholder on january30, 2010 my journal entry must be:

    ( for December 2009)
    Dividens 32000
    Account Payable 32000

    ( for January 30,2010)
    Account Payable 32000
    Cash 32000

    :confused:Please clarify me Thanks a lot!

    Freca.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
     
    #2

    Oct 8, 2009, 12:46 AM

    If you'll replace the Accounts Payable with Dividends Payable, you'll be fine.

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