Entries for cash dividends Inatructlons Chart of Accounts Jo

Entries for cash dividends Inatructlons Chart of Accounts Journal Instructions The declaration, record, and payment dates in connection with a cash diidend i s 130.00 on coporation\' commonsud ae.anuar-?March is Ari 12 Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account tities.

Solution

Journal

Accounting equation

Date

Description

Post ref

Debit

Credit

Assets

liabilities

Equity

Jan-12

Cash Dividends

130400

-130400

     To Cash Dividends Payable

130400

130400

Mar-13

No entry required

Apr-12

Cash dividend payable

130400

130400

     To cash

130400

130400

No entry is required at the time of record of dividend

	Journal			Accounting equation
Date	Description	Post ref	Debit	Credit	Assets	liabilities	Equity
Jan-12	Cash Dividends		130400				-130400
	To Cash Dividends Payable			130400		130400
Mar-13	No entry required
Apr-12	Cash dividend payable		130400		130400
	To cash			130400		130400