Use the Following Information for Questions

question 45

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 declaration of the dividend on July 15, 2022, are to

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

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Definitions:

Empirical Evidence

Empirical evidence is information acquired by observation or experimentation that serves as the basis for knowledge and theory development.

Unconscious Motivation

Psychological forces that operate in the mind on a subconscious level to influence behavior and feelings.

Perception

The process by which individuals interpret and organize sensory information to understand their environment.

Psychological Disorders

Conditions characterized by abnormal thoughts, feelings, and behaviors.