Current Attempt in Progress Aloue Corp., a publicly traded company, had 2,800 preferred shares issued with a balance of $58,800 and 127,000 common shares issued with a balance of $635,000 at the beginning of the year. The following share transactions occurred during the year: June Issued 49,500 common shares for $6 per share. 12 July Issued 1,000 preferred shares for $25 per share. 11 Oct. 1 Issued 9,400 common shares in exchange for land. The common shares were trading for $7 per share on that date. The fair value of the land was estimated to be $70,600. Nov. Issued 27,000 preferred shares for $28 per share. 15 Calculate the number of shares and balance in the account for each of the preferred and common shares at the end of the year. Number of shares Balance in accounts (1) Preferred shares A (2) Common shares A On January 1, 2018, Pukalani Corporation had 73,000 common shares, recorded at $544,000, and retained earnings of $926,000. During the year, the following transactions occurred: Apr. 2 Issued 5,400 common shares at $20 per share. June 15 Declared a cash dividend of $0.15 per share to common shareholders of record on June 30. payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $23 a share on August 21. $24 on September 5, and $26 on September 20. Nov. 1 Issued 3,300 common shares at $24 per share. Dec. 20 Declared a cash dividend of $0.20 per share to common shareholders of record on December 31, payable on January 10. Record the above transactions for 2018. (Note: Closing entries are not required.) (Credit account titles are automatically indented when the the account titles and enter for the amounts. Round answers to 0 decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit Apr. 2 Cash 108000 Common Shares 108000 June 15 Dividends Declared Dividends Payable July 10 Dividends Payable Cash Aug. 21 Dividends Declared Stock Dividends Distributable Sept. 20 Stock Dividends Distributable Common Shares Nov. 1 Cash Common Shares Dec. 20 Dividends Declared Dividends Payable