7 The equity section of Segways Ltd's balance sheet as at 30 June 2021 is presented below: Fully paid ordinary shares issued @ $2.00 per share 6,000,000 Preference Shares issued @ $3.50 per share 3,500,000 9,500,000 Retained Earnings General Reserve 1,250,000 750,000 11,500,000 5 points Save Answer An obligatory 6% preference share dividend was announced on 1 November 2020. The preference dividend was paid on the same day. The directors decided to issue to each ordinary shareholder one bonus share for every 100 shares held on 16 December 2020, when the market price of the ordinary shares was $3.85 per share. The bonus issue was to come from the Retained Profits account. On 21 December 2020 a total of 10,000 share options were issued as a part of the executive management's compensation package. The options entitle the executive management team to purchase 10,000 ordinary shares in the company for $4.00 per share. These options have a fair value of $1.00 per option and can be exercised until 31 May 2021. After the price for the company's shares increased to $4.50 per share on 31 May 2021, the executive team members decided to exercise all of their option contracts. The board of directors announced a final ordinary dividend on 2 June 2021 of 7 cents per share to be paid on the same date. At 30 June 2021 the company's directors decided to transfer $25,000 from the General Reserve to Retained Profits. Required: Prepare the journal entries to account for the transactions occurring on the following dates: i. 1 November 2020; ii. 16 December 2020; iii. 21 December 2020; iv. 31 May 2021; v. 2 June 2021; and vi. 30 June 2021. Note: Narrations are not required. (0.5 mark) (1 mark) (0.5 mark) (1.5 mark) (1 mark) (0.5 mark)