Btw, I just picked up on something...You wrote:"DR Dividends (equity)CR Bank (or S/H Loan if you have a positive S/H Loan and are tracking through that account)...
Ok, great, thanks! So I guess my main issue messing me up in the past was having Dividends set up as a current liability account instead of an equity account.I ...
Thanks, Rochelley. So which of these 2 sets of Journal Entries, if either, are you're saying is correct? My confusion over this has always been how to clear the...
Ok, thanks. For the time being I'll follow your earlier advice and keep the new equity account (type: owner's equity) that I called Dividends Paid (instead of t...
I'm in the process for looking for a new accountant so in the meantime trying to fix up on my own. I may be wrong but I thought the Dividends Payable (Liability...
