What are the four important dates in regard to a cash dividend? What journal entry does the corporation make on each date?
Specify the four dates that are important in regard to the cash dividend and also state the journal entry that will be recorded by the corporation on each date.
Dividends:
This is the amount of cash distributed to stockholders by a company out its earnings, according to their proportion of shares invested in the company.
1. Declaration date
2. Ex-dividend date
3. Date of record
4. Date of payment
Date | Account Titles and explanation | Debit ($) | Credit ($) |
Retained earnings | xxx | ||
Dividend payable | xxx | ||
( To record declaration of cash dividend payable) |
(Table 1)
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