Barton Corporation began a very lucrative consulting operation on May 1, 2014. They are authorized to issue 550,000 shares of $3.00 cumulative preferred shares. They are also authorized to issue 700,000 common shares.

May 13 : 14,000 of the preferred shares were issued for a total of $64,400 cash.

May 23 : 10,000 of the common shares were issued for a total of $25,000 cash.

May 25 : Issued 8,000 preferred shares at $3.41 per share for cash.

May 26 : Gave the corporation's promoters 14,000 common shares for their services in organizing the corporation. The directors valued the services at $8,000.

May 29 : 6,000 common shares were issued in exchange for land valued at $24,000.

May 31 : In addition to the declaration of the annual dividend on the preferred shares, dividends of $39,000 were declared on the common shares today.

Prepare journal entries for the above transactions,

Question 6 [20 points) Burton Corporation begon a very lonte consulting operation on May 1, 2016. They are authorized to me 160.000 of 3.00 euros pretend wwwThey are the series te 700.000 common shares May 13 14 000 of the preferred shares were issued for a fe64 400 cash May 23 10,000 of the common shares were stund for a total of 825,000 cath May 25 led 8.000 preferred what 3.41 per share for cash May 20 Gave the corporations prorecer 10.000 mon shares for the service in rating the corporation The directors valued the services at 8.000 May 296,000 colimon shares were und in exchange for land voted M 24.000 May 31 In addition to the declaration of the antal dividend on the preferred short, onde of 532.000 were come on the common shares today Prepare para enties for the above macions, entering the transaction her the sonten. Ano, ertes dates in the format och G PO Baron Corporation begon a very lucrativo consulting operation on May 1, 2016. They are autorted to ou 550.000 shares ot 53.00 cartulation protected shares. They wo atio authortered to innuo 700.000 May 1314,000 of the preferred we were seed for a lot of $64.A00 cash May 23 10,000 of the common shares were issued for a total of $25.000 cash May 25 und 3.000 preferred 33.41 per share for cash M20 Gave the corporation's cromoten 1000 common whes for their service oranizing the corporation. The directors Valved the wrvices at 50.000 May 31 In addition to the declaration of the dividend on the preferred share dividends of $39,000 were dolored on the common shares today Prepare journal entries for the above transactions, entering the transaction letter as the explanation. Ano, entor dolus in the format din om 15:30) Gama Page 1 F Det HE