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Some of the account balances of Vos Limited at December 31, 2019 are as follows: $5 Preferred shares (1,800 shares authorized, 1,800 shares issued and outstanding) $650,000 Common shares (unlimited authorized, 61,000 shares issued and outstanding) 470,000 Contributed surplus 100,000 Retained earnings 763,000 Accumulated other comprehensive income 21,840 The price of the company's common shares has been increasing steadily on the market; it was $20 on January 1, 2020 and advanced to $23 by July 1 and to $26 at the end of 2020. The preferred shares are not openly traded but were appraised at $119 per share during 2020. Vos follows IFRS and had net income of $144,000 during 2020. For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. The company declared a property dividend on April 1. Each common shareholder was to receive one share of Waterloo Corp. for every 10 shares outstanding. Vos had 7,800 shares of Waterloo (2% of the outstanding shares), and had purchased them in 2015 for $68,016. The shares are accounted for using the FV-OCI model. The accumulated other comprehensive income relates only to these shares. The fair value of the Waterloo shares was $15 per share on April 1. The property dividend was distributed on April 21 when the fair value of the Waterloo shares was $18.00. The Waterloo shares remained at a fair value of $18.00 until year end. Prepare the journal 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 Ofor the amounts. Round answers to O decimal places, e.g. 5,275. Do not round intermediate calculations.) Apr. 1 FV- OCI Investments 50544 Accumulated OCI 50544 (To record fair value adjustment) Apr. 1 Dividends 91500 Dividends Payable 91500 (To record declaration of property dividend) Apr. 1 (To reclassify holding gain) Apr. 21 Accumulated OCI Retained Earnings On July 1, the company declared a 4% stock dividend at the fair value of the shares to the remaining common shareholders. The stock dividend was distributed July 22. Prepare the journal 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.) Date Account Titles and Explanation Debit Credit July 1 Dividends 56120 Dividends Payable 56120 July 22 Dividends Payable 56120 Common Shares 56120 A shareholder, in an effort to persuade Vos to expand into her city, donated to the company a plot of land with an appraised value of $40,000. Prepare the journal entry. (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.) Account Titles and Explanation Debit Credit Land 40000 Contributed Surplus - Donated Land 40000 Vos Limited Shareholders' Equity December 31, 2020 Share Capital Preferred Shares $ 650000 Common Shares Total Paid-in Capital V Contributed Surplus Share Capital Retained Earnings Accumulated OCI Total Shareholders' Equity $