Question: Question 3 Shares (9 marks) Equity - journal entries: dividends, preferred shares, etc. During 2019, Maldives Corporation reported the following selected transactions: Jan 1 Issued

Question 3 Shares (9 marks) Equity - journal entries: dividends, preferred shares, etc. During 2019, Maldives Corporation reported the following selected transactions: Jan 1 Issued 15,000 common shares at $15 per share. Jun 30 Issued 2,000 common shares at $14.50 per share in exchange for equipment Oct 30 The board of directors declared a 10% common stock dividend. The market price o the common shares on this date was $12 per share. Nov 30 The board of directors declared a cash dividend of $0.22 per share to shareholders of record on December 15, payable on December 20. Dec 20 The cash dividend (declared on Nov 30) is paid. Instructions Prepare the journal entries to record the above transactions Do not do descriptions but other than that good format required

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