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Bonita Ltd. issues 8,100, $6 cumulative preferred shares at $62 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred
Bonita Ltd. issues 8,100, $6 cumulative preferred shares at $62 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021, the following transactions affected Bonita's shareholders' equity accounts:
2020 | |||
Jan. | 10 | Paid $13,000 of annual dividends to preferred shareholders. | |
2021 | |||
Jan. | 10 | Paid annual dividend to preferred shareholders and a $3,700 dividend to common shareholders. | |
Mar. | 1 | The preferred shares were converted into common shares. |
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