7.04 Assignment - Accounting for Publicly Held Corporations.docx

Santiago 1
Shianne Santiago
Keystone Accounting Teachers
Accounting
May 27, 2020
Accounting for Publicly Held Corporations
Part 1:
On December 10, the Board of Directors of Win Corporation declares the following quarterly
cash dividends. The date of record is December 10 and date of payment is January 2.
Dividend Per Share Total Dividend
Preferred stock, $10 par 10,000 $1.00 $10,000
Common stock, $5 par 100,000 $0.20 $20,000
$30,000
Instruction :
Post the necessary journal entry.