Accounting 2 – 4/13/18
I. Bellwork: Q&A
- Explain the difference between a purchase returns & allowance and a sales returns & allowances.
- How are the journal entries to record a purchase returns & allowance and a sales returns & allowances different? Debits and Credits – Example
II. Objective
- Explain the relationship between retained earnings and dividends.
- Account for the declaration and payment of dividends.
III. .Accounting for the Declaration and Payment of Dividends
Discussion Pages 332-336
- Stockholders Equity Accounts
- Declaring a Dividend
- Paying Declared Dividends
- Correcting Errors in Subsidiary Ledger Accounts
IV. Classwork p331
- 11-3 Working Together & On Your Own – Working papers & Aplia
- 11-3 Application on Aplia p339
Chapter 11 Test on Tuesday
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