Beskar Metals Inc. began operations on June 5, 2021. June 5 Sold 4,000 common shares for $85,200 in cash to investors. 15 Received $23 cash per share for the issuance of 82,000 common shares. 16 Issued 10,000 preferred shares for cash of $46 per share. 17 8,000 common shares were issued in exchange for cash of $137,000. 18 The board of directors declared a cash dividend of $20,200 on the preferred shares and $5,700 on the common shares to shareholders of record on June 20, payable July 1. July 1 The dividends declared on June 18 were paid. Required: Prepare the required journal entries for the above transactions. Explanations are not required for the journal entries. diuidondo doolon ah ologg fou na divid.
Beskar Metals Inc. began operations on June 5, 2021. June 5 Sold 4,000 common shares for $85,200 in cash to investors. 15 Received $23 cash per share for the issuance of 82,000 common shares. 16 Issued 10,000 preferred shares for cash of $46 per share. 17 8,000 common shares were issued in exchange for cash of $137,000. 18 The board of directors declared a cash dividend of $20,200 on the preferred shares and $5,700 on the common shares to shareholders of record on June 20, payable July 1. July 1 The dividends declared on June 18 were paid. Required: Prepare the required journal entries for the above transactions. Explanations are not required for the journal entries. diuidondo doolon ah ologg fou na divid.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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