Q1. Victoria Limited had the following transactions during the current period. Mar. 3 Issued 4,000 of $4 par value ordinary shares to attorneys in payment of a bill for $40,000 for services performed in helping the company to incorporate. June 15 Issued 40,000 of $3 par value ordinary shares for cash of $452,000. July 18 Issued 2,000 of $120 par value preference shares for cash at $200 per share. Nov. 25 Purchased 2,000 treasury shares for $80,000. Instructions Journalize the transactions. Q2. a. On January 1,SMART Corporation had 100,000 shares of no-par ordinary shares issued and outstanding. The share have a stated value of $8 per share. During the year, the following occurred. Apr. 1 Issued 45,000 additional ordinary shares for $18 per share. June 1 Declared a $1.50 cash dividend per share to shareholders of record on April 15 . May 1 Paid the dividend declared in April. b. On January 1, Borderline Corporation has 100,000 shares of par value ordinary shares issued and outstanding. The share has a par value of $8 per share. During the year, the following occurred. Aug 1 Declared a 10% share dividend to shareholders of record on August 15 , distributable August 31. On August 1 , the market price of the stock was $10 per share. Dec 1 Issued the shares for the Share dividend