S Burnley, Understanding Financial Accounting ACCOUNTING PRINCIPLES (ACCT 100/ Practice Assignment Gradebook ORION Downloadable eTextbook signment ES Application Problem 11-12 The shareholders' equity of Deer Ltd. at the end of 2016 and 2015 appeared as follows: nd Share capital, preferred shares, $2 cumulative, 2,000,000 shares $213,600 $213,600 authorized, 26,700 shares issued Share capital, 5,000,000 common shares authorized, 1,250,000 common shares issued (2015-1,050,000 shares) Retained earnings Total shareholders' equity 5,200,000 4,200,000 3,979,000 3,187,000 $9,392,600 $7,600,600 During 2016, Deer paid a total of $114,300 in cash dividends. shares were not in arrears at December 31, 2015. How was the $114,300 in cash dividends distributed betwa udy of shares in 2016? 2016 $ LINK TO TEXT LINK TO TEXT a Bng d) Very Bright One b pple ) BC Transit-Weic. @ () Drinks l Starbucks.. Other Bookm Burnley, Understanding Financial Accounting ACCOUNTING PRINCIPLES (ACCT 100 / PMBAS04/ ACCT10 Assignment Gradebook ORION Downloadable eTextbook ment NEXT LINK TO TEXT LINK TO TEXT Assume the preferred share dividends were in arrears for one year; that is, the dividends were not paid in 2015. How was the $114,300 in cash dividends distributed between the two classes of shares? 2015 arrears 2016 Both common shares and retained earnings changed during the year. Provide journal entries that would account for the changes. (Enter debit entries first followed by 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 O for the amounts.) Credit Practice Assignment Gradebook ORION Downloadable eTextbook signment (common shares issued during year) 2. (Dividends declared duridig year) 3. (Dividends paid during year) Study (Net income for the year closed to retained earnings) 5. Di