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. Please provide the journal entry for the declaration of dividends.
Definitions:
Bronfenbrenner
A psychologist known for his ecological systems theory, which considers the complex interrelations between individual development and environmental factors.
Microsystem
A part of the ecological systems theory that refers to the immediate environment in which an individual interacts, such as family, school, peers, and workplace.
Bronfenbrenner
Urie Bronfenbrenner, a developmental psychologist renowned for the Ecological Systems Theory, which explains how the inherent qualities of a child and the characteristics of the external environment interact to influence how the child grows and develops.
Ecological-Systems Model
A framework identifying the various environmental layers that influence an individual's development, from immediate surroundings to broader societal contexts.
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