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

question 30

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 statements is TRUE about the date of record?

• A) No journal entry is made on the date of record.
• B) The liability must be recorded on the date of record.
• C) Cash is disbursed to shareholders on the date of record.
• D) The company transfers cash to a brokerage firm on the date of record.

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Regulation

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