Following is a recent Microsoft press release: REDMOND, Wash.—March 15, 2014 — Microsoft Corp. today announced that its board of directors declared a quarterly dividend of $0.28 per share. The dividend is payable June 12, 2014 to shareholders of record on May 15, 2014. Prepare the journal entries Microsoft used to record the declaration and payment of the cash dividend for its 8,260 million shares.

Following is a recent Microsoft press release: REDMOND, Wash.—March 15, 2014 — Microsoft Corp. today announced that its board of directors declared a quarterly dividend of $0.28 per share. The dividend is payable June 12, 2014 to shareholders of record on May 15, 2014. Prepare the journal entries Microsoft used to record the declaration and payment of the cash dividend for its 8,260 million shares.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4CP

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