Prepare the entries for each of the date

Reference no: EM132816620

Atlas Company has 8,000,000 outstandning ordinary shares with a par value of $1, on 10 December 2019 the company has declared 25% cash dividends payable on February 12, 2020.

Required

Problem (i) Prepare the enrties for each of the date above, assuming the dividends represent distrubution of profit.

Problem (ii) Prepare the entries for each of the date above, assuming the dividends above has partial return of capital which equal to $ 400,000.

Reference no: EM132816620

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