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please answer correctly In is firat vear of opecations. Windser Corporation had the following transactions relstins to is convertitle preferred shares and compion shyes The
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In is firat vear of opecations. Windser Corporation had the following transactions relstins to is convertitle preferred shares and compion shyes The preferred dividend rate h$2 per share. Jan 1 tsued 12,200 common chares at $10 per share. Teb. 1 foumd 5200 preferred shares for 541 per thare. Mily 1 Dedured and paid annus prefered dividends. Nox 1 Camerted 3.200 preferred shares to common shares when the fali value of the preferred shares wan 542 ond ifie tair value of the common shares was $20. One share of preferred is convertzle to 4 common thares. Journalise the transactions. FCredly account ticles are automotically indented when the omount is entered, Do not indent muncily List al Dic occound ticler and enter Ofor the anounts) debit entries befor coedit entries. Record journal entries in the order presented in the problem. If no entry k required, select "No Entry? For the occeunt tieles and enter ofor the amountsy Indicate the amount to be reported for (1) preferred shares and (2) common shares at the end of the year. (1) Preferred shares (2) Commonshares Step by Step Solution
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