Refer to the data in PE 11 11 Make the necessary journal entry (or entries) to close the dividend accounts to Retained Earnings at the end of the year ...

Refer to the data in PE 11-11. Make the necessary journal entry (or entries) to close the

Question:

Refer to the data in PE 11-11. Make the necessary journal entry (or entries) to close the accounts to Retained Earnings at the end of the year.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...