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Problem $10-1$

#:

Recording Dividends

Requirement $1$

A$.$ August $15$ Dividend declaration entry

Date

Account Name

Debit

Credit

$\backslash$table$[[$Account Name Debit$]]$

B$.$ After posting the above entry the Current Balances in the Dividends Payable account and the Retained Earnings account:

$\backslash$table$[[\backslash$table$[[$Current Balance in the$],[$DividendssPayable$],[$account as of Aug. $15]],\backslash$table$[[$Current Balance in the$],[$Retained Earnings$],[$account as of Aug. $15]]],[,]]$

Requirement $2$