Question
When dividend is declared: Dr. Dividend $15,575 Cr. Dividend Payable $15,575 When dividend is recorded: No entry When dividend is paid: Dr. Dividend Payable $15,575
When dividend is declared:
Dr. Dividend $15,575
Cr. Dividend Payable $15,575
When dividend is recorded:
No entry
When dividend is paid:
Dr. Dividend Payable $15,575
Cr. Cash $15,575
issue with answer if that, there is only 15000 in cash
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Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
8th edition
978-1118953907, 9781118953808, 1118953908, 1118953800, 978-1119491057
