Assume That Oslo Corp

question 180

Multiple Choice

Assume that Oslo Corp. acquires 30% of Celdon Corp. for $300,000 on January 1, 2014. If Celdon declares and pays $100,000 in total dividends on February 14th, the journal entry would include a credit to

• A) Dividend Revenue for $100,000.
• B) Dividend Revenue for $30,000.
• C) Stock Investments for $30,000.
• D) No entry is necessary.

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Definitions:

Problem-Oriented

A methodological approach focusing on identifying, analyzing, and solving specific problems.

Irrational Beliefs

Beliefs that are not based on reason or logical thinking, often leading to negative emotional states or behaviors.

Ellis

Refers to Albert Ellis, an American psychologist and psychotherapist known for developing Rational Emotive Behavior Therapy (REBT).

Punctuality

The state or quality of being on time.