The entry to record the payment of a previously declared dividend of $2.00 per share on 21,500 shares of common stock includes a

Question

Oksana_A [137]

4 years ago

11

The entry to record the payment of a previously declared dividend of $2.00 per share on 21,500 shares of common stock includes a

? ________.

Business

1 answer:

vovikov84 [41] · Answer 1 · 2021-12-09T12:32:10+03:00

<span>The Company has dividend payable of $43,000 upon declaration of a cash dividend. Below is the entry to record the payment of this dividend:
Debit: Dividend Payable $43,000.00
Credit: Cash on Hand / Cash in Bank $43,000.00
<em>To record payment of previously declared dividend. </em>
</span>