Question: Zeus Ltd declared a final dividend to its shareholders at the Annual General Meeting on 31.12.2017 of $1,200,000. The amount was finally paid on 31.3.2018.

Zeus Ltd declared a final dividend to its shareholders at the Annual General Meeting on 31.12.2017 of $1,200,000.

The amount was finally paid on 31.3.2018.

Required:

Prepare the Journal Entries for the declaration and distribution of the dividends in 2017 and 2018.

(10 marks)

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