The journal entry to record $10,000 in a share dividend on the declaration date can include a debit to cash dividends declared and a credit to dividends payable.

Name: The journal entry to record $10,000 in a share dividend on the declaration date can include a debit to cash dividends declared and a credit to dividends payable.
Brand: Quizplus
Rating: 4.7 (45 reviews)

Question

Quizplus · Accepted Answer

The journal entry to record a share dividend on the declaration date includes a debit to share dividends distributable and a credit to common stock.

The Journal Entry to Record $10,000 in a Share Dividend