Distributions to Shareholders Flashcards
1
Q
Date of Declaration
A
DR: Retained Earnings
CR: Dividends Payable
2
Q
Date of Record
A
No Journal Entry
3
Q
Date of Payment
A
DR: Dividend Payable
CR: Cash
4
Q
Donated Stock
A
DR: Donated Treasury Stock (FMV)
CR: APIC (FMV)
5
Q
Donated Stock that is sold
A
DR: Cash
CR: Donated Treasury Stock
DR/CR: APIC (DR: if selling price < original FMV and vise versa)
