Saved Bookmarks
| 1. |
Study the following case/situation and express your opinion.DIAMOND Co. Ltd. is considering declaring an Interim Dividend.(a). In how many days of the declaration it should transfer the funds to Dividend Account?(b). In how many days it must pay it to shareholders?(c). In how many days of the declaration it must transfer the funds to the Unpaid Dividend A/c? |
|
Answer» (a) The interim dividend must be transferred to the Dividend Account within 5 days of its declaration. (b) The interim dividend should be paid within 30 days of its declaration to shareholders. (c) Unpaid/unclaimed Interim dividend should be transferred to ‘Unpaid Dividend Account’ within 7 days of the expiry of 30 days of declaration i.e. 37 days of its declaration. |
|