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Home Q & A Board Other Fields Homework Help Business Accounting
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stfajar stfajar
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5 years ago
On November 1, 2017, Oster, Inc. declared a dividend of $5.00 per share. Oster, Inc. has 30,000 shares of common stock outstanding and no preferred stock. Which of the following is the journal entry needed to record the declaration of the dividend?
A) Debit Dividends PayableCommon $150,000, and credit Retained Earnings $150,000.
B) Debit Cash Dividends $150,000, and credit Cash $150,000.
C) Debit Cash Dividends $150,000, and credit Dividends PayableCommon $150,000.
D) Debit Cash $150,000, and credit Dividends PayableCommon $150,000.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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beccachristybeccachristy
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5 years ago
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stfajar Author
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#2
5 years ago
Enough said, this helped my grade so much
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#3
5 years ago
Perfect
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