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c can you please do the tranactions and put them into journal entrys thanksssss On January 1, 2021, Wildhorse Ltd. had the following shareholders' equity
ccan you please do the tranactions and put them into journal entrys thanksssss
On January 1, 2021, Wildhorse Ltd. had the following shareholders' equity accounts: Common shares (1,000,000 issued) Retained earnings $1,300,000 1,690,000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2021, none had been issued. During 2021, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Apr. 1 July 1 Aug 12 Oct. 1 Dec. 31 Dec. 31 Issued 103,000 preferred shares for $47 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders. Issued 103,000 common shares for $2.40 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders and a $0.30 per share dividend to the common shareholders. Loss for the year was $103,000. Date Account Titles and Explanation Debit Credit (To record issuance of shares.) (To close dividends.)Step by Step Solution
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