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Chapter 10 - Owner's Equity.pdf

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ACC 100
Else Grech

Chapter 10 - Owner's Equity Thursday, April 10, 2014 4:09 PM Share Repurchases - when a corporationbuys commonshares from the shareholders Dr. Share Capital (average price * # of shares repurchased) Dr. Contributed Surplus (amount paid - average price) Dr. Retained Earnings (amount paid - average price) Cr. Cash Dividends Date of declaration - the date when the BOD of a corp. declares a dividend Date of record - registered owner of shares receives dividend Date of payment - dividends are paid to shareholders Cash Dividend To record declaration Dr. Retained earnings Cr. Dividend payable on commonshares To record payment Dr. Dividend payable on commonshares Cr. Cash Property Dividend To record gain on shares of X being distributed to shareholders as a property dividend Dr. Investmentin X Cr. Gain on disposal of investments To record declaration of a property dividend Dr. Retained Earnings Cr. Property Dividend Payable To record payment of the property divi
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