Dividends X Dividends payable X Are any of these two accounts in the journal an...
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Dividends |
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Dividends payable |
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Are any of these two accounts in the journal an asset? If yes, did they increase or decrease? If there weren't any assets in the journal, what would you say is the effect of the journal entry on total assets?
Homework Answers
No, none of the given accounts in the journal is an asset. the given entry is passed when the dividends are declaired .
Declaration of dividend do not affect asset side of balance sheet at all but rather , it do affect only the equity and liability part of the balance sheet by reallocating part of retained earnings to dividend payables. It do not have any effect on total assets. Assets are generally affected at the time of payment of dividend.
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Are any of these two accounts in the journal an...
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