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kindly do this question fast Bentley Inc. began a very lucrative consulting operation on June I , 2014. They are authorized to issue 450.000 shares
kindly do this question fast
Bentley Inc. began a very lucrative consulting operation on June I , 2014. They are authorized to issue 450.000 shares of $3.00 cumulative preferred shares. They are also authorized to issue 700,000 common shares. a. June 1 : Gave the corporation's promoters 10,000 common shares for their services in organizing the corporation. The directors valued the services at S36,000. b. June 3 : 6,000 common shares were issued in exchange for land valued at $6,000. c. June 8 : 11,000 of the preferred shares were issued for a total of S29,700 cash. d. June 21 : 11,000 of the common shares were issued for a total of S5,500 cash. e- June 22 : Issued 11.000 preferred shares at S6.93 per share for cash. f. June 30 : In addition to the declaration of the annual dividend on the preferred shares, dividends of $43,200 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/mmm (ie. 15/Jan). F Debit Credit-
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