Assignment

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. Part 2: On November 10, the Board of Directors at Hilton Corporation declared an annual cash dividend of $3 per share on 1000 preferred shares. The dividend payable to preferred stockholders is recorded on November 26 and will be paid on December 10, Memorandum No.115, Check No.149 Instruction: Post a journal entry for the transaction.