Zhang Mining Company declared, on April 20, a dividend of 500,000 payable on June 1. Of this
Question:
Zhang Mining Company declared, on April 20, a dividend of ¥500,000 payable on June 1. Of this amount, ¥125,000 is a return of capital. Prepare the April 20 and June 1 entries for Zhang.
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...
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Apr 20 Retained Earnings 500000 125000 ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0470616314
IFRS edition volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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