2018 - Solutions to Activity 14 - 17 Dividends activities (1).doc - Accounting for shares Worksheet \u2013 Dividends solutions Question 1(Activity 14 Date

2018 - Solutions to Activity 14 - 17 Dividends activities (1).doc

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Accounting for shares Worksheet – Dividends solutions Question 1 (Activity 14) Date Particulars Debit Credit 2018 Aug 1 Retained earnings (-EQ) 30 000 Final dividend payable (L) 30 000 Final dividend of 10c declared on 300 000 ordinary shares Sept 30 Final dividend payable 30 000 Cash at bank 30 000 Final dividend paid Retained earnings (EQ) 2018 Aug 1 Final dividend payable 30 000 2018 July 1 Balance 500 000 2019 June 30 Profit & Loss (Profit after tax) 500 000 Final dividend payable (L) 2018 Sept 30 Cash at bank 30 000 2018 Aug 1 Retained earnings 30 000 Cash at bank (A) 2018 July 1 Balance 150 000 2018 Sept 30 Final dividend payable 30 000 © WestOne Services 2010 T&E1156 1
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Question 2 (Activity 15) Date Particulars Debit Credit 2018 Aug 1 Retained earnings 85 000 Final dividend payable 85 000 Final dividend of 17c declared on 500 000 ordinary shares Oct 1 Final dividend payable 85 000 Cash at bank 85 000 Final dividend paid Retained earnings 2018 Aug 1 Final dividend payable 85 000 2018 July 1 Balance 500 000 2019 June 30 P & L (Profit after tax) 500 000 Final dividend payable 2018 Oct 1 Cash at bank 85 000 2018 Aug 1 Retained earnings 85 000
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