(*) indicate what I am needing on the journal entries. Thanks REDMOND, Wash.—Mar

Question

  (*) indicate what I am needing on the journal entries. Thanks

REDMOND, Wash.—March 15, 2014 — Microsoft Corp. today announced that its board of directors declared a quarterly dividend of $0.18 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 9,500 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

REDMOND, Wash.—March 15, 2014 — Microsoft Corp. today announced that its board of directors declared a quarterly dividend of $0.18 per share. The dividend is payable June 12, 2014 to shareholders of record on May 15, 2014.

Explanation / Answer

EVENT General Journal Debit Credit 1 Retained earnings 1710        Cash Dividends payable 1710 ( 0.18 per share * 9500 million shares) 2 Cash Dividends Payable 1710           Cash 1710

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