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Part G (10 marks) Beskar Metals Inc. began operations on June 5, 2021. June 5 Sold 4,000 common shares for $85,200 in cash to
Part G (10 marks) Beskar Metals Inc. began operations on June 5, 2021. June 5 Sold 4,000 common shares for $85,200 in cash to investors. 15 Received $23 cash per share for the issuance of 82.000 common shares 16 Issued 10,000 preferred shares for cash of 546 per share 17 8,000 common shares were issued in exchange for cash of $137,000 18 The board of directors declared a cash dividend of $20,200 on the preferred shares and $5,700 on the common shares to shareholders of record on June 20, payable July 1. July The dividends declared on June 18 were paid. Required: Prepare the required journal entries for the above transactions. Explanations are not required for the journal entries Beskar uses a dividends declared account for each class of shares for declaring dividends Date END OF THE EXAM Account Debit Credit
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