Reference no: EM133043822

Question - Tunis Incorporated has a March 31 year-end. The following information pertains to the company's shares:

Common Shares: unlimited # authorized, 45,000 issued; $180,000

Preferred Shares: unlimited # authorized, $6 cumulative; 0 issued; $0

A transaction listing for Tunis Incorporated's prior fiscal year is as follows:

Issued 20,000 common shares at $5/share Apr 5

Issued 5,000 preferred shares at $30/share May 17

Declared/paid a $6/share dividend on preferred shares Jul 14

Bought and retired 1,000 preferred shares at $37/share Aug 19

Declared/paid a $1/share dividend on common shares Nov 16

Issued 500 common shares in exchg. for $10K machine Dec 19

Required - Prepare the required journal entries in good form (with dates) for the above-listed transactions.