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It is the amount left with or kept aside by the company after it pays the dividend from net income. Normally, the investors and firms decide to reuse this amount…

The income summary account has a zero balance for the rest of the year. The balances in the temporary accounts are retained in the income summary account until final closing…

If your corporation has a capital dividend account, it can issue a capital dividend to its shareholders, which is tax-free. Issuing a capital dividend has its own requirements, such as…