1. Issue of Shares: Common shares outstanding are 100,000 as on Dec 31, 2020 Retained Earnings 648,000 Mars Dividend declared $1.25 per share payable March 31 Mar 31 Paid dividend declared on March 5 Nov 11 Issued 14000 shares of S 8 each Nov 25 Iuued 5000 shares of S6 each Dec 1 The directors declared a dividend of S2 per share cash dividend payable on Jan 5, 2021 to the Dec 10 shareholders on record. Dec 31 Closed the S321,600 credit balance in the Income summary account to Retained earnings. Dec 31 closed the cash dividend account. Prepare General Joumal entries to record the transactions and closings entries. Prepare a statement of changes in equity for the year ended December 31 hp 19 18 110 17 0 16 CD 15 14 FOTO Leslie Bjorn, Jason Douglas, and Tom Pierce have a partnership and share income and losses in a 3:1:1 ratio. They decide to liquidate their partnership on March 31, 20XX. The balance sheet appeared as follows on the date of liquidation: BDP Business Balance Sheet March 31, 20XX $47,400 $27,600 Assets Cash Property Plant and Equip. $233,400 Less Ace Dep.- PPE (128,400) Liabilities Accounts Payable Leslie Bjor, Cap Jason Douglas, Cap Tom Pierce, Cap 105,000 $ 55,200 63,600 6,000 124,800 Total Assets $152,400 Total Lib and Equity $152,400 Prepare the entries on March 31, 20XX, to record the liquidation when Property, plant and equipment is sold for $264,000. Leslie Bjorn, Jason Douglas, and Tom Pierce have a partnership and share income and losses in a 3:1:1 ratio. They decide to liquidate their partnership on March 31, 20XX. The balance sheet appeared as follows on the date of liquidation: BDP Business Balance Sheet March 31, 20XX $47,400 $27,600 Assets Cash Property Plant and Equip. $233,400 Less Ace Dep.- PPE (128,400) Liabilities Accounts Payable Leslie Bjor, Cap Jason Douglas, Cap Tom Pierce, Cap 105,000 $ 55,200 63,600 6,000 124,800 Total Assets $152,400 Total Lib and Equity $152,400 Prepare the entries on March 31, 20XX, to record the liquidation when Property, plant and equipment is sold for $264,000