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need the ans asap as per the requirment Jan. 10 Time: 05:33 PM / 110 mm PRINTER VERSION RACK Question 3 Concord Deck System Corporation
need the ans asap as per the requirment
Jan. 10 Time: 05:33 PM / 110 mm PRINTER VERSION RACK Question 3 Concord Deck System Corporation is a public company whose shares are actively traded on the Toronto Stock Exchange. The following transactions occurred in 2020 Jan. 1 The company was granted a charter that authorities the issuance of an unlimited number of common shares, and 272,000 preferred shares that entitle the holder to a $3 per share Issued 13,700 common shes to the founders of the corporation for land that has a fair value of 1411,000 Mar 10 Issued 3.600 preferred shares for cash for $100 per share. Issued 110 common shares to a car dealer in exchange for a sed vehicle. The asking price for the car is 45,800. At the time of the exchange the common shares are ling 551 Aug. 20 Decided to use shares on subscription basis to select individual, giving each person the right to purchase 250 common shares et 360 per share. Forty individuals accepted the Oct. 11 Issued 3.200 commen shores and to preferred shares for a lump sum of 1,000 cash. At the time of sale, both the common and preferred thres were actively traded. The Declared cath dividends totaling $25,500 payable on January 31, 2021, to holders of record on January 15, 2021 Apr 15 per share Dec. 31 Prepare the genera uma entries to record the transactions (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts Round answers to decimal places, ..5,275. Do not round Intermediate calculations.) Date Account Tities and explanation Credit Deb ln l Mart 10 Try Mat 10 Apt. 15 Aug. 20 Oct. 11 Dec. 31 (To record dividends declared on preferred shares) (To record dividends declared on common shares) Step by Step Solution
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