Sex chatting wap sites - Journal entry to record liquidating dividend
The total dividends payable liability is now 80,000, and the journal to record the declaration of dividend and the dividends payable would be as follows.Debit The debit is a charge against the retained earnings of the business and represents a distribution of the retained earnings to the shareholders.
The partnership is liquidated and non cash assets are sold for 100,000.
The non cash assets of 140,000 are sold for 100,000 making a loss on sale of 40,000.
The interwar period in the United States, and in the rest of the world, is a most interesting era.
The decade of the 1930s marks the most severe depression in our history and ushered in sweeping changes in the role of government.
For this transaction the accounting equation is shown in the following table.
With the dividends declared journal entry, a liability (dividends payable) is increased by 80,000 representing an amount owed to the shareholders in respect of the dividends declared.
There is a rapid adoption of the automobile to the detriment of passenger rail travel.
Though suburbs had been growing since the late nineteenth century their growth had been tied to rail or trolley access and this was limited to the largest cities.
As soon as the dividend has been declared, the liability needs to be recorded in the books of account as dividends payable.
Suppose a business had dividends declared of 0.80 per share on 100,000 shares.
The flexibility of car access changed this and the growth of suburbs began to accelerate.