Prepare journal entries to record the following unrelated transactions of a public company (a) Payment of interim dividend of $30 000 (b) Transfer of $52 000 from the asset revaluation surplus to the general reserve (c) Transfer of $34 000 from the general reserve to retained earnings (d) Payment o...

a Dividend paid Dr 30 000 Cash Cr 30 000 Payment of dividend b Asset rev ...

Prepare journal entries to record the following unrelated transactions of a public company: (a) Payment of interim

Question:

Prepare journal entries to record the following unrelated transactions of a public company:
(a) Payment of interim of $30 000
(b) Transfer of $52 000 from the asset revaluation surplus to the general reserve
(c) Transfer of $34 000 from the general reserve to retained earnings
(d) Payment of 240 000 bonus shares, fully paid, at $2 per share from the general reserve.
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...