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please ASAP, Q2 10.86 / 16 Coronado Ltd issues 8.400, $4 cumulative preferred shares at $65 each and 15.000 common shares at $30 each at
please ASAP,
Q2
10.86 / 16 Coronado Ltd issues 8.400, $4 cumulative preferred shares at $65 each and 15.000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. During the years 2020 and 2021. the following transactions affected Coronado's shareholders' equity accounts: 10 Paid $14,000 of annual dividends to preferred shareholders. 2020 Jan 2021 Jan. 10 Paid annual dividend to preferred shareholders and a $3.900 dividend to common shareholders. The preferred shares were converted into common shares. 1 Your answer is partially correct. Journalize each of the transactions. (Credit account tiles are automatically indented when the amount is entered. Do not indent manualf noemtry is required, select "No Entry for the account titles and enter for the amounts. Debit Credit Date Account Titles and Explanation 2020 Jan. Dividends Payable 10 $ 14 000.00 cash 51-000.DE To record preferred share dividend.) Debit Credit Date Account Titles and Explanation 2021 Jan Dlueenda Payable 50 200.00 0.00 common shares 10 10.86 / 16 Common Shares 3,900.00 Glash (To record common and preferred share dividends.) 57.100.00 Mar. Preferred Shares 546,000.00 Common Shares (To record conversion of shares.) 546,000.00 e Textbook and Media List of Accounts Your answer is partially correct. Are there any additional reporting requirements regarding preferred share dividends in either 2020 or 2021? The company needs to disclose dividends in arrears of S in the notes to the 2020 financial e Textbookand Media
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