Ashwill Ltd. was incorporated July 1, 2020. The company is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during its fiscal year ending June 30, 2021:

Jul10Issued 100,000 common shares for $12.50 per share.Jul15Issued 400,000 common shares for $13 per share.Sep30Issued 30,000 common shares in return for a warehouse. The common shares weretrading for $15.50 on the date the warehouse was acquired. The assessed value of the warehouse on that date was $450,600.

Mar16Issued 1,000 preferred shares for $95 per share.

Instructions

Record the above transactions.