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On May 1, Uli Corporation incorporated and authorized 187,000 preferred shares and an unlimited number of...

On May 1, Uli Corporation incorporated and authorized 187,000 preferred shares and an unlimited number of common shares. On May 2, Uli issued 2,000 common shares for $16 per share. On June 15, it issued an additional 1,100 common shares for $17 per share. On November 1, Uli issued 210 preferred shares for $32 per share. On December 15, it issued an additional 210 preferred shares for $34 per share.

Record the share transactions.

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Uli Corporation Journal Enteries Date Particulars Debit in $ Credit in $ May-02 Cash a/c Dr. 32000 To Common Shares 32000 (Co

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