Keyword Analysis & Research: dividends paid journal entry

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What is the journal entry to record dividends?

The Journal Entries. Record the first journal entry as follows: On the Date of Declaration, when the company's board of directors announces the dividend amount, make a journal entry to debit Retained Earnings and credit Dividends Payable, which is a current liability account.

What is the journal entry for a declared dividend?

Dividends Declared Journal Entry. Assuming there is no preferred stock issued, a business does not have to pay dividends, there is no liability until there are dividends declared. As soon as the dividend has been declared, the liability needs to be recorded in the books of account as dividends payable.

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