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 Journalize each of the transactions (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit 2020 Jan 10 (To record preferred share dividend ) Date Account Titles and Explanation Debit Credit 2021 Jan 10 (To record common and preferred share dividends ) Mar 1 (To record conversion of shares )

Question

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  Journalize each of the transactions  (Credit account titles are automatically indented when the amount is entered  Do not indent manually  If no entry is required, select  No Entry  for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit 2020 Jan   10 (To record preferred share dividend ) Date Account Titles and Explanation Debit Credit 2021 Jan  10 (To record common and preferred share dividends ) Mar  1 (To record conversion of shares )

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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.

Date	Account Titles and Explanation	Debit	Credit
2020 Jan . 10

	(To record preferred share dividend.)

Date	Account Titles and Explanation	Debit	Credit
2021 Jan. 10


	(To record common and preferred share dividends.)
Mar. 1

	(To record conversion of shares.)

Question

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

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