Please don't provide answer in image format thank you. Required 1. Record the transactions in the general journal. 2. Prepare the statement of shareholders' equity for the year ended December 31, 2023. TransactionsJanuary 14February 28March 1April 1May 2July 4September 2November 2December 31Declared a $96,000 cash dividend, payable on March 1 to the shareholders ofrecord on February 1. Indicate the amount payable to each class ofshareholder.Issued 12,000 common shares for $6.00 per share.Paid the cash dividend declared on January 14.Declared a 15 percent share dividend on the common shares, distributable onMay 2 to the shareholders of record on April 15. The market value of the shareswas $6.20 per share.Distributed the share dividend declared on April 1.Repurchased 3,400 of the company's own common shares at $6.75 per share.Issued 3,400 common shares for $7.25 per share.Split the common shares 2 for 1.Reported net income of $180,000. Closed the Income Summary account. Shareholders' equity sectionContributed capitalPreferred shares, $2.00, cumulative (1 year inarrears), liquidation price of $20, 100,000 sharesauthorized, 22,000 shares issued and outstanding $Common shares, unlimited number of sharesauthorized, 27,000 shares issued and outstandingTotal contributed capitalRetained earningsTotal shareholders' equity352,000270,000622,000540,000$ 1,162,000|

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Description: Please don't provide answer in image format thank you. Required 1. Record the transactions in the general journal. 2. Prepare the statement of shareholders' equity for the year ended December 31, 2023. TransactionsJanuary 14February 28March 1April 1M

Stockholder's equity also comprises retained earnings, which are the company's accumulated profits,…

Business

Accounting

Please don't provide answer in image format thank you. Required 1. Record the transactions in the general journal. 2. Prepare the statement of shareholders' equity for the year ended December 31, 2023.

Please don't provide answer in image format thank you. Required 1. Record the transactions in the general journal. 2. Prepare the statement of shareholders' equity for the year ended December 31, 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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