Question: When dividend is declared: Dr. Dividend $15,575 Cr. Dividend Payable $15,575 When dividend is recorded: No entry When dividend is paid: Dr. Dividend Payable $15,575

When dividend is declared:

Dr. Dividend $15,575

Cr. Dividend Payable $15,575

When dividend is recorded:

No entry

When dividend is paid:

Dr. Dividend Payable $15,575

Cr. Cash $15,575

issue with answer if that, there is only 15000 in cash

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Thankyou for any help. Cold Ltd had the following transactions and events occur in the year ended 30 June 2021: paid an interim dividend of $8,000 paid the 30 June 2020 final dividend declared of...

Q:

Consolidated Entity $'000 6,930 630 1,280 5,190 1.130 ? ? d e e Consolidation worksheet for financial year ended 30 June 2021 Chandler Joey Adjustments Ltd Ltd Debit Ref Credit $'000 $'000 $'000...

Q:

In respect to the issue of shares by companies, which of the following statements is incorrect? a. Companies can convert ordinary shares into preference shares. b. Companies can only issue ordinary...

Q:

Need someone to look over my homework in accounting. All the work is inputted. I attached the directions as well. I just am not sure about the tabs marked in red. Date 10/1/2012 Date 10/1/2012 Date...

Q:

The first image is the original question, the rest are the answer choices for each box. Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a...

Q:

Question 4 1.5 pts On September 18th, 2019 Microsoft Corp. announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the...

Q:

hili..its an accepting question..i only want to understand how to solve transactions 2,3,4,5,6 plus how did he get delivery van- cost to be =12,000 i have answer i just need CLEAR EXPLANATION...

Q:

18. PQR Ltd owns all of the shares of ABC Ltd. In relation to the following intergroup transaction, select the correct consolidation worksheet adjusting entries for preparation of the consolidated...

Q:

Assa On January 1, 2020, Geffrey Corporation had the following stockholders' equity accounts. Ordinary shares (515 par value, 80,000 shares issued and outstanding) $1,200,000 Share Premium-Ordinary...

Q:

Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2018-2020. At December 31, 2017, the corporation's accounts included: ($in...

Q:

Newton's first equation of motion is stated as follows: Where v is the final velocity, u is the initial velocity, a is the acceleration, and t is the time. a. Complete the following table stating...

Q:

The financial statements of Procter & Gamble (P&G) can be accessed at the books website. Instructions Refer to P&Gs financial statements and the accompanying notes to answer the following questions....

Q:

Cul de las siguientes afirmaciones describe mejor la tcnica de la evaluacin de inversiones conocida como "Payback"? Pregunta 6Respuesta a. El "Payback" se utiliza nicamente para proyectos a largo...

Q:

Master Kong uses the weighted-average method for its process costing. The Work in Process T-account for the Mixing Department for the month of June is as follows: Work in Process-Mixing Department $...

Q:

Charles has a PAP with the following coverages: Liability coverages: $100,000/$200,000/$50,000 Medical payments coverage; $7,000 per person Uninsured motorists coverage: $15,000 per person Collision...

Q:

Two isotropic point sources, each emitting S neutrons/sec, are located in an infinite moderator of and a a D . The distance between two sources is a(cm) . Find the flux distribution as a function of...

Q:

The profit before tax, as reported in the statement of profit and loss for Aileen Ltd for the year ended 30 June 2020, amounted to $150,000, including the following revenue and expense items:...

Q:

if the price index is greater than 100, then 1) nominal GDP is greater than real GDP. 2) nominal GDP is lower than real GDP. 3) nominal GDP equals real GDP 4) prices decrease by more than double...

Q:

Which option is the first process that runs once a computer is powered on and the CPU loads the BIOS? Boot Loader WININIT POST Winload.exeWhich option is the first process that runs once a computer...

Q:

2. Ask questions, listen rather than attempt to persuade.

Q:

9. How much of the information collected will be used in decision-making?

Q:

1. Background knowledge of the subject and