CAPE Accounting Unit 1 · 2021 · Paper 2 · Question 1(d)

VM Corp. reported equity amounts at December 2018 including 10% preferred shares (200,000 for 20,000 shares), Common shares (400,000 for 20,000 shares, 200 par value), Contributed capital in excess of par (50,000), and Retained earnings (675,000). Several equity transactions occurred during 2019: - 15 January 2019: Annual dividend on preferred shares and 15 per share common dividend paid (declared 23 December 2018). - 30 June 2019: 5,000 preferred shares issued at 14 per share. - 1 September 2019: Exercised option to acquire office building where it operates for 300,000 in exchange for 1,250 new common shares. - 31 December 2019: Land appraised; excess of appraised value over book value was 225,000. - 31 December 2019: 10,000 preference shares redeemed at 15 per share.

Prepare journal entries (without narratives) to record the transactions in 2019.

This question uses a figure or table from the paper — you'll see it when you practise.