Question 13

Grouper Deck System Corporation is a public company whose shares are actively traded on the Toronto Stock Exchange. The following transactions occurred in 2023:

Jan.	1		The company was granted a charter that authorizes the issuance of an unlimited number of common shares, and 256,000 preferred shares that entitle the holder to a $3 per share annual dividend.
Jan.	10		Issued 13,900 common shares to the founders of the corporation for land that has a fair value of $417,000.
Mar.	10		Issued 3,700 preferred shares for cash for $100 per share.
Apr.	15		Issued 110 common shares to a car dealer in exchange for a used vehicle. The asking price for the car is $6,900. The asking price is negotiable. At the time of the exchange, the common shares are selling at $58 per share.
Aug.	20		Decided to issue shares on a subscription basis to select individuals, giving each person the right to purchase 270 common shares at $60 per share. Forty individuals accepted the companys offer and agreed to pay 10% down and the remainder in three equal monthly instalments starting in February 2024.
Oct.	11		Issued 2,700 common shares and 600 preferred shares for a lump sum of $210,000 cash. At the time of sale, both the common and preferred shares were actively traded. The common shares were trading at $60 each; the preferred shares at $105 each.
Dec.	31		Declared cash dividends totalling $24,000, payable on January 31, 2024, to holders of record on January 15, 2024.

(a) Prepare the general journal entries to record the transactions. (List all debit entries before credit entries. 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 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275. Do not round intermediate calculations. Record entries in the order displayed in the problem statement.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Jan. 1Jan. 10Mar. 10Apr. 15Aug. 20Oct. 11Dec. 31

choose a transaction date

enter an account title to record dividends declared on preferred shares

enter a debit amount

enter a credit amount

enter an account title to record dividends declared on preferred shares

enter a debit amount

enter a credit amount

()To record dividends declared on preferred shares

enter an account title to record dividends declared on common shares

enter a debit amount

enter a credit amount

enter an account title to record dividends declared on common shares

enter a debit amount

enter a credit amount

()To record dividends declared on common shares