Question

Santiago Corp., a publicly traded company, had 2,300 preferred shares issued with a balance of $50,600 and 144,000 common shares issued with a balance of $720,000 at the beginning of the year. The following share transactions occurred during the year: June Issued 46,900 common shares for $6 per share. 12 July Issued 1,000 preferred shares for $26 per share. 11 Oct. 1 Issued 9,100 common shares in exchange for land. The common shares were trading for $7 per share on that date. The fair value of the land was estimated to be $69,000. Nov. Issued 22,500 preferred shares for $28 per share. 15
PLEASE GIVE PART B AND THE DETAIL CALCULATE PROCESS, THANK YOU

Answer 1

A. 1 Date Number of shares Opening Preferred shares Common Stock No of Shares Balance 2300 $ 144000 $ 50,600 7,20,000 3 5 6 Jun-22 Common shares 46900 $ 2,81,400 7 Jul-11 Preferred Shares 1000 $ 26,000 10 Oct-01 Common Shares 9100 $ 69,000 11 12 Nov-15 Preferred shares Total 22500 $ 2,25,800 $ 6,30,000 17,77,000 13 14

A C D 1 Date Number of shares No of Shares Opening Preferred shares Common Stock Balance 2. 2300 144000 50600 3 720000 5 Common shares 6 44713 =+C6 *6 46900 7 Preferred Shares 1000 =+C8*26 8 40725 9100 69000 10 37165 Common Shares 11 Preferred shares Total =+C12*28 |=SUM(C2:C12 )=SUM(D2:D12) 22500 12 42309 13 14 15