On 1 November 2014, Oster Company Declared a Dividend of $3.00

question 44

Multiple Choice

On 1 November 2014, Oster Company declared a dividend of $3.00 per share. Oster Company has 20 000 ordinary shares outstanding and no preference shares. Which of the following is the journal entry needed to record the declaration of dividends?

• A)Debit Retained earnings $60 000 and credit Dividends payable $60 000.
• B)Debit Cash $60 000 and credit Dividends payable $60 000.
• C)Debit Retained earnings $60 000 and credit Cash $60 000.
• D)Debit Dividends payable $60 000 and credit Retained earnings $60 000.

Understand the applications and limitations of biomass as a renewable energy source.

Comprehend the potential and challenges of geothermal energy and hydrogen gas as alternative energy sources.

Discuss the role of energy policies and technologies in reducing dependence on non-renewable energy sources.

Appreciate the importance of innovative building designs and materials in energy conservation.

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Definitions:

Deadweight Loss

An economic inefficiency arising when there's a failure to attain or an impossibility of attaining equilibrium for a particular good or service.

Taxes on Labor

Refers to taxes imposed on wages or salaries earned, impacting the net income of employees.

Second Earners

Refers to individuals in a household who contribute income in addition to the primary breadwinner, often impacting households' labor supply decisions and overall economic dynamics.

Price Elasticities

A measure of how much the quantity demanded of a good responds to a change in the price of that good.