The entry to record the payment of dividends is:

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Today the board has declared a dividend of usd 1 million for the last year profi...
Posted by:
Tegegne Abrham
24-March-2015

A. debit Cash, credit Dividend Expense

B. debit Dividend Expense, credit Cash

C. debit Dividends, credit Dividend Payable

D. debit Dividend Payable, credit Cash

Accounting Auditing Account Handling Financial Accounting Bookkeeping

Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/03/25

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1 Answers

by Linda Jaison , Accounts Executive , Orostar Explosion Proof Electrical Materials Trading LLC

The Answer is D

Debit Dividend payable , Credit cash

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