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half an hour please Question 4 [20 points) Velor inc. began a very lucrative consulting operation on September 1, 2014 They are buthonzed to issue
half an hour please
Question 4 [20 points) Velor inc. began a very lucrative consulting operation on September 1, 2014 They are buthonzed to issue 400,000 shares of $2.00 cumulative preferred shares. They are also authored to issue 700,000 common shares September 3 Gave the corporation's promoters 6,000 common shares for their services in organizang the corporation. The directors valued the services at $8,000. b. September 79,000 common shares were issued in exchange for land valued at $9,000 c. September 14: Issued 12,000 preferred shares at $4.35 per share for cash d September 15 11,000 of the preferred shores were issued for a total of $60,500 cash e September 24: 5,000 of the common shares were issued for a total of $60,000 cash f. September 30. In addition to the declaration of the annual dividend on the preferred shares, dividends of $10,000 were declared on the common shares today Prepare journal entries for the above transactions, entering the transaction letter as the explanation. Also, enter dates in the format dd/mmnm (n. 15/Jan)Step by Step Solution
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