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    astubb91's Avatar
    astubb91 Posts: 1, Reputation: 1
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    #1

    Feb 19, 2008, 10:46 AM
    Stockholders equity
    How do you journalize a statement when a person declares the required cash dividend on the preferred stock and a $1.15 dividend on the common stock?
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Feb 20, 2008, 01:32 PM
    Dr. Retained earning
    Cr. Dividend payable
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    Feb 20, 2008, 07:40 PM
    Depending on the textbook, it can also be debited to Cash Dividends, a contra equity account, rather than directly out of Retained Earnings.

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