On 1 November 2016,Oster Company Declared a Dividend of $4

question 12

Multiple Choice

On 1 November 2016,Oster Company declared a dividend of $4.75 per share.Oster Ltd has 20,000 ordinary shares outstanding and no preference shares.The date of record is 15 November and the payment date is 30 November 2016.Which of the following is the journal entry needed on 30 November?

• A)debit Dividends payable,ordinary $95,000 and credit Cash $95,000
• B)debit Cash $95,000 and credit Dividends payable,ordinary $95,000
• C)debit Retained earnings $95,000 and credit Cash $95,000
• D)debit Retained earnings $95,000 and credit Dividends payable,ordinary $95,000

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Statute of Frauds

A legal requirement for certain types of contracts, such as those involving real estate, to be in written form to be valid.

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The overall retail environment or marketplace where businesses sell goods and services to consumers.

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The Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions in the United States.