In the problem we have declared a dividend of $0.45 per share on $45,000 shares of common stock...

Question

In the problem we have declared a dividend of $0.45 per share on $45,000 shares of common stock outstanding and I can not remember how to put it into T accounts or on the general journal

Robert · Accepted Answer

Journal Entry 
Dividend Declared = .45*45000 
      = $ 20250
Date Account Title Debit Credi
t 
 Dividend 20250  
        Dividend Payable  2025
0
 Retained Earnings
20250  
         Dividend  2025
0
   T Account 
Retained Earnings
Dividend Payable 
20250
20250

In the problem we have declared a dividend of $0.45 per share on $45,000 shares of common stock outstanding and I can not remember how to put it into T accounts or on the general journal

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