At 31 December 2023, OZWise Ltd has the following components of Equity: Contributed equity 2,500,000 ordinary...

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At 31 December 2023, OZWise Ltd has the following components of Equity: Contributed equity 2,500,000 ordinary $1 shares Retained earnings $4,000,000 Reserves $ 600,000 On 31 December 2023, the directors of the company declared a 10% share dividend to be paid out of the balance in the Retained earnings account on 5 January 2024. Required (a) Prepare journal entries to record the declaration and payment of share dividends. (b) Calculate the balance of the retained earnings after the payment of share dividends. At 31 December 2023, OZWise Ltd has the following components of Equity: Contributed equity 2,500,000 ordinary $1 shares Retained earnings $4,000,000 Reserves $ 600,000 On 31 December 2023, the directors of the company declared a 10% share dividend to be paid out of the balance in the Retained earnings account on 5 January 2024. Required (a) Prepare journal entries to record the declaration and payment of share dividends. (b) Calculate the balance of the retained earnings after the payment of share dividends.

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a Journal Entries to Record the Declaration and Payment of Share Dividends 1 On ... View the full answer