Following is a recent Microsoft press release: REDMOND, Wash. Nov. 29, 2017 Microsoft Corp. on
Question:
Following is a recent Microsoft press release:
REDMOND, Wash. — Nov. 29, 2017 — Microsoft Corp. on Wednesday announced that its board of directors declared a quarterly dividend of $0.42 per share. The dividend is payable March 8, 2018, to shareholders of record on Feb. 15, 2018. The ex-dividend date will be Feb. 14, 2018.
Require:
Prepare the journal entries Microsoft used to record the declaration and payment of the cash dividend for its 7,720 million shares.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Journal entry to declare the dividend DR Di...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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