Cash dividend • LO18–8 Real World Financials Following is a recent Microsoft press release: REDMOND, Wash.—March 16, 2016 —Microsoft today announced that its board of directors have declared a quarterly dividend of $0.36 per share. The dividend will be payable on June 9, 2016, to shareholders of record on May 19, 2016. The ex-dividend date will be May 17, 2016. Prepare the journal entries Microsoft used to record the declaration and payment of the cash dividend for its 7,870 million shares.

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Chapter 18, Problem 18.10BE

Cash dividend

• LO18–8

Real World Financials

Following is a recent Microsoft press release:

REDMOND, Wash.—March 16, 2016—Microsoft today announced that its board of directors have declared a quarterly dividend of $0.36 per share. The dividend will be payable on June 9, 2016, to shareholders of record on May 19, 2016. The ex-dividend date will be May 17, 2016.

Prepare the journal entries Microsoft used to record the declaration and payment of the cash dividend for its 7,870 million shares.

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Chapter 18, Problem 18.9BE

Chapter 18, Problem 18.11BE

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