Debit Retained Earnings $250,800; credit Common Dividends Payable $250,800
<h3>What is a dividend?</h3>
A dividend is the distribution of profits to shareholders by a corporation. When a corporation makes a profit or has a surplus, it has the option of paying a portion of that profit as a dividend to its shareholders. Any money that is left over is taken out and put back into the business.
The total dividend is divided by the number of outstanding shares to determine the dividend per share.
A corporation may choose to disperse a portion of its income in one of four different ways. Your monthly brokerage statement may include information about dividends paid on CASH, STOCK, HYBRID, or PROPERTY investments.
Shares issued= 456,000
Per share cash dividend = $0.55
Dividends Payable = 456,000 x $0.55 = $250,800
Debit Retained Earnings $250,800, credit Common Dividends Payable $250,800
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