Journal Entries Chapter 13&14 Flashcards
1
Q
Issuing shares for cash
A
Dr. Cash
Cr. Common shares
2
Q
Issuing shares for non cash
A
Dr.asset/ service
Cr.common share
3
Q
Income tax entry
A
Dr.income tax expense
Cr. Income tax payable
4
Q
Cash Dividends declaration date
A
Dr.cash dividends
Cr. Dividends payable
5
Q
Cash dividents payment date
A
Dr. Dividends payable
Cr. Cash
6
Q
Stock Dividends take out
A
Dr. Retained earnings
Cr. Capital stock
7
Q
Stock dividdends declaration date
A
Dr. Stock dividends
Cr.stock dividends distribution
8
Q
Stock dividends distribution date
A
Dr. Stock dividends distribable
Cr.common shares
9
Q
Reacuqistion below average cost
A
Dr. Common shares
Cr. Contributed surplus
Cr. Cash
10
Q
Reaqusition below average cost
A
Dr. Common shares
Dr. Contributed surplus
Dr.retained earings
Cr. Cash
