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View Policies Current Attempt in Progress The shareholders equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: 2020 2019 $212,400 $212.400 Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized 23,600 shares issued Share capital, 5,000,000 common shares authorized, 1,150,000 common shares issued (2019-970,000 shares) Retained earnings Total shareholders' equity 4.780,000 3,880,000 4.181.000 3.464.000 $9.173.400 $7.556,400 During 2020, Deer paid a total of $130,600 in cash dividends. #4 - Fall 2021 (Ch 4, 5, and 11) Question 2 of 24 - /25 Assume the preferred shares were not in arrears at December 31, 2019. How was the $130,600 in cash dividends distributed between the two types of shares in 2020? Preferred Common Total 2020 List of Accounts Assume the preferred share dividends were in arrears for one year; that is, the dividends were not paid in 2019. How was the $130,600 in cash dividends distributed between the two classes of shares? Preferred Common Total $ 2019 arrears 2020 $ List of Accounts FO 180 o C SVAR19 ! TE Both common shares and retained earnings changed during the year. Provide journal entries that would account for the changes (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.) No. Account and explanation Debit Credit 1. (common shares issued during year) 2. (Dividends declared during year) 1032 Question 2 of 24

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