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

question 28

Multiple Choice

On November 1, 2014, Oster Company declared a dividend of $3.00 per share. Oster Company has 20,000 shares of common stock outstanding and no preferred stock. The date of record is November 15, and the payment date is November 30, 2014.
- Which of the following is the journal entry needed on November 30?

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

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Definitions:

Psychoanalytic

Relating to a theory and therapeutic method developed by Sigmund Freud that emphasizes unconscious mental processes and early childhood experiences in shaping behavior.

Cognitive-behavior Therapist

A mental health professional specializing in cognitive-behavioral therapy, which focuses on changing negative thoughts and behaviors to improve emotional regulation and develop personal coping strategies.

Intrapsychic Processes

Psychological activities and dynamics occurring within an individual's mind, affecting their behavior and emotions.

Emotions

Psychological states that arise in response to internal or external events and are characterized by specific physiological responses, feelings, and behaviors.