Kingbird Ltd was incorporated February 1, 2021 and is authorized to issue an unlimited number of preferred and common shares The company entered into the following transactions during the year Feb 10 Issued 32,300 common shares for $ 23 per share Feb 21 Issued 930 common shares to the companys lawyer as payment for a bill of $ 24,180 for services performed in helping the company to incorporate Mar 16 Issued 3,300 convertible preferred shares for $ 95 per share Sep 10 Issued 7,300 convertible preferred shares for $ 105 per share Oct 1 Converted 3,300 preferred shares into common shares One preferred share is convertible into 5 common shares The fair values of the common and preferred shares are $ 25 and $ 102 respectively Prepare journal entries to record the transactions ) Kingbird Ltd was incorporated February 1, 2021 and is authorized to issue an unlimited number of preferred and common shares The company entered into the following transactions during the year Feb 10 Issued 32,300 common shares for $ 23 per share Feb 21 Issued 930 common shares to the company's lawyer as payment for a bill of $ 24,180 for services performed in helping t Mar 16 Issued 3,300 convertible preferred shares for $95 per share Sep 10 Issued 7,300 convertible preferred shares for $ 105 per share Oct 1 Converted 3,300 preferred shares into common shares One preferred share is convertible into 5 common shares Thef

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Kingbird Ltd. was incorporated February 1, 2021 and is authorized to issue an unlimited number of preferred and common shares. The company entered into the

Kingbird Ltd. was incorporated February 1, 2021 and is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during the year:

Feb.	10	Issued 32,300 common shares for $ 23 per share.
Feb.	21	Issued 930 common shares to the companys lawyer as payment for a bill of $ 24,180 for services performed in helping the company to incorporate.
Mar.	16	Issued 3,300 convertible preferred shares for $ 95 per share.
Sep.	10	Issued 7,300 convertible preferred shares for $ 105 per share.
Oct.	1	Converted 3,300 preferred shares into common shares. One preferred share is convertible into 5 common shares. The fair values of the common and preferred shares are $ 25 and $ 102 respectively.

Prepare journal entries to record the transactions :) image text in transcribed

Kingbird Ltd. was incorporated February 1, 2021 and is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during the year: Feb. 10 Issued 32,300 common shares for $ 23 per share. Feb. 21 Issued 930 common shares to the company's lawyer as payment for a bill of $ 24,180 for services performed in helping t Mar. 16 Issued 3,300 convertible preferred shares for $95 per share. Sep. 10 Issued 7,300 convertible preferred shares for $ 105 per share. Oct. 1 Converted 3,300 preferred shares into common shares. One preferred share is convertible into 5 common shares. Thef