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On May 1, Page Corporation incorporated and authorized 181,000 preferred shares and an unlimited number of common shares. On May 2, Page issued 2,100 common
On May 1, Page Corporation incorporated and authorized 181,000 preferred shares and an unlimited number of common shares. On May 2, Page issued 2,100 common shares for $16 per share. On June 15, it issued an additional 900 common shares for $18 per share. On November 1, Page issued 220 preferred shares for $27 per share. On December 15, it issued an additional 220 preferred shares for $35 per share. Record the share 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 o for the amounts.) Date Account Titles and Explanation Debit Credit Indicate how many shares are authorized and how many are issued at the end of the year for the (1) preferred shares and (2) common shares. Number of shares authorized Number of shares issued (1) Preferred shares (2) Common shares
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