Accounting – 3/26/19

I Bellwork: Q&A

  1. Explain the difference between purchase returns & allowance and sales returns & allowances.
  2. 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

A.  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 p. 339


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