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EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common...

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EXERCISES During 2018, Maldives Corporation reported the following selected transactions: Jan 1 Issued 20,000 common shares at $15 per share. 1. Jun 15 Sep 30 Oct 10 Issued 2,000 common shares at $14 per share in exchange for equipment valued at $27,000 The board of directors declared a 10% common stock dividend. The market of the common shares on this date was $12 per share. The 10% common stock dividend is distributed. The board of directors declared a cash dividend of $0.22 per share to shareholders of record on December 15, payable on December 20. price Nov 30 Instructions Prepare the journal entries to record the above transactions assuming Maldives Corporation follows IFRS. (12)

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