Use the Following Information for Questions

question 43

Multiple Choice

Use the following information for questions
On July 15, 2022, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares.The dividend is to be paid on August 15, 2022, to shareholders of record on July 31, 2022.
-The effects of the journal entry to record the payment of the dividend on August 15, 2022, are to

• A)decrease shareholders' equity and decrease liabilities.
• B)decrease liabilities and decrease assets.
• C)increase shareholders' equity and increase liabilities.
• D)increase shareholders' equity and decrease assets.

---

Definitions:

Generate List

The action or process of creating a sequence or collection of items that are usually related by some criteria.

Solution-building

A problem-solving approach focusing on identifying practical and effective solutions rather than dwelling on the problem itself.

Problem-solving

A mental process that involves discovering, analyzing, and solving problems to reach a goal or answer.

Problem-focused

A coping strategy that addresses the root cause of a stressor or problem in order to mitigate or solve it.