CASH DIVIDENDS 8—10 On November29,2017MicrosoftCorpannouncedthatitsboardofdirectors declared aquarterlydividendof$.042 pershare. The dividendispayableMarch8,2018,toshareholdersofrecordonFebruary 15,2018. Theex-dividenddate willbeFebruary 14,2018. PreparethejournalentriesMicrosoftusedtorecordthedeclarationand payment ofthecashdividend forits7,720 millionshares. — ftbtS x -49Lor. 00 ouD,A-.e.m CASHDIVIDENDSwith ARREARS Theshareholders'equityofMLSEnterprisesincludes$200millionofnoparcommonstock and$400millionof6%cumulative preferredstock.TheboardofdirectorsofMLSdeclaredcashdividends of$50millionin2021afterpaying$20millioncash dividendsinboth2020and2019.Determinetheamountofdividendscommonandpreferredshareholders willreceivein2021. 20!3 9-0 cad Oiv- 50DS6:D-q 2-0 0 PIC Reag o
PROPERTY DIVIDEND Adams MovingandStorage,afamily-ownedcorporation,declareda propertydividendof1,000sharesofGEcommonstockthat AdamshadpurchasedinFebruaryfor$37,000asaninvestment.GE's shareshadamarketvalueof$35per shareonthedeclaration date.Preparethejournalentriestorecordthepropertydividendonthedeclarationand paymentdates.Hint:firstbring investment to fairvalueandrecognizetheloss oninvestment. STOCKDIVIDEND(small) (OnJune13,the boardofdirectorsofSiewertInc.declareda5%stockdividendonits60million,$1par,common shares,tobe distributedonJuly1..Themarketprice ofSiewertcommonstockwas$25onJune13.Preparethejournalentrytorecordthestock dividend.g IE 60m o,og 45 pi U PAP STOCKDIVIDEND(large) Refertothesituationdescribedabove,butassumea2-for-l stocksplitinsteadofthe5%stockdividend. Preparethejournal entry torecordthestocksplitifitistobeeffectedintheform ofa100%stockdividend. Whatistheparpershareafter thesplit?
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