Question
Brief Exercise 18-10 (Algo) Cash dividend [LO18-7] Following is a recent Giga Tech. press release: REDMOND, Wash.-Nov. 29, 2017- Giga Tech on Wednesday announced
Brief Exercise 18-10 (Algo) Cash dividend [LO18-7] Following is a recent Giga Tech. press release: REDMOND, Wash.-Nov. 29, 2017- Giga Tech on Wednesday announced that its board of directors declared a quarterly dividend of $0.20 per share. The dividend is payable March 8, 2018, to shareholders of record on Feb. 15, 2018. The ex-dividend date will be Feb 14, 2018 Prepare the journal entries Giga Tech. used to record the declaration and payment of the cash dividend for its 9,700 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).) ices View transaction list Journal entry worksheet 1 Record the journal entry on the declaration date. Note: Enter debits before credits
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started