Microsoft Corporation's disclosure notes for the year ending June 30, 2020, Included the following regarding its $0.00000625 par common stock Employee Stock Purchase Plan-We have an ESPP for all eligible employees. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Employees purchased the following shares during the periods presented (Shares in millions) Year Ended June 30, Shares purchased Average price per share 2020 2019 11 $142.22 $104. 2018 15 $76.48 As of June 30, 2020, 96 million shares of our common stock were reserved for future issuance through the ESPP Required: Prepare the journal entry that summarizes Microsoft's employee share purchases for the year ending June 30, 2020 Note: If no entry is required for a transection/event, select "No journal entry required" in the first eccount field. Enter your answers In whole dollars.

Microsoft Corporation's disclosure notes for the year ending June 30, 2020, Included the following regarding its $0.00000625 par common stock Employee Stock Purchase Plan-We have an ESPP for all eligible employees. Shares of our common stock may be purchased by employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Employees purchased the following shares during the periods presented (Shares in millions) Year Ended June 30, Shares purchased Average price per share 2020 2019 11 $142.22 $104. 2018 15 $76.48 As of June 30, 2020, 96 million shares of our common stock were reserved for future issuance through the ESPP Required: Prepare the journal entry that summarizes Microsoft's employee share purchases for the year ending June 30, 2020 Note: If no entry is required for a transection/event, select "No journal entry required" in the first eccount field. Enter your answers In whole dollars.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Microsoft Corporation's disclosure notes for the year ending June 30, 2020, Included the following regarding its $0.00000625 par
common stock
Employee Stock Purchase Plan-We have an ESPP for all eligible employees. Shares of our common stock may be purchased by
employees at three-month intervals at 90% of the fair market value on the last trading day of each three-month period. Employees may
purchase shares having a value not exceeding 15% of their gross compensation during an offering period. Employees purchased the
following shares during the periods presented
(Shares in millions)
Year Ended June 30,
Shares purchased i
Average price per share
2020
2019
11
$142.22 $104.85
2018
15
$76.48
As of June 30, 2020, 96 million shares of our common stock were reserved for future issuance through the ESPP
Required:
Prepare the journal entry that summarizes Microsoft's employee share purchases for the year ending June 30, 2020
Note: If no entry is required for a transection/event, select "No Journal entry required" In the first account field. Enter your answers
In whole dollars.

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