On November 1, 2015, Oster Company Declared a Dividend of $3.00

question 38

Multiple Choice

On November 1, 2015, 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, 2015. Which of the following is the journal entry needed on November 30?

• A)Debit Retained Earnings $60,000 and credit Dividends Payable-Common $60,000.
• B)Debit Dividends Payable-Common $60,000 and credit Cash $60,000.
• C)Debit Cash $60,000 and credit Dividends Payable-Common $60,000.
• D)Debit Retained Earnings $60,000 and credit Cash $60,000.

---

Definitions:

Walking Difficulty

Impairment or discomfort experienced while walking, which may result from injuries, disabilities, or medical conditions.

Psychosocial Stimulation

Activities and interactions that promote cognitive, emotional, and social development in individuals.

Disinhibition

A reduction in restraint or inhibition, leading to impulsive or risky behaviors that are normally suppressed.

Advance Directives

Legal documents that allow individuals to specify their medical treatment preferences in advance, should they become unable to make decisions for themselves.