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

    Apr 30, 2012, 10:19 PM
    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?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 2, 2012, 11:51 AM
    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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