a.

b.

Beca Inc.'s shareholders' equity accounts were as follows at the beginning of the most recent fiscal year, August 1, 2020: $1 noncumulative preferred shares (91,000 shares issued) $2,275.000 Common shares (342,000 shares issued) 3,420,000 Retained earnings 2,660,000 Total shareholders' equity $8,355,000 During the year, the following selected Transactions occurred: Oct 1 Dec. 1 Feb. 1 Repurchased 22,800 common shares for $18 per share. Issued 60,000 common shares for $26 per share. Issued 10,300 common shares for $27 per share. Declared the annual preferred cash dividend to shareholders of record on July 10. payable on July 31. Net income for the year ended July 31, 2021. was $1,362,000. June 20 July 31 On January 1, 2021, Foress Corporation, a publicly traded company, had the following shareholders' equity accounts: $2,112,000 Common shares (unlimited number of shares authorized, 52,800 shares issued) Retained earnings Accumulated other comprehensive income 1.363,200 65,280 During the year, the following transactions occurred: Jan 15 Apr. 16 Declared a $1.25 per share cash dividend to shareholders of record on January 31, payable February 15. Declared a 10% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30, and May 15, the share prices were $12. $11.80, and $11.90, respectively. Effected a 2-for-1 stock split, On October 1, the share price was $15 Oct. 1 Dec. 31 Determined that net income for the year was $602,880. Record the above transactions, including any required entries to close dividends and net income. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually and If no entry is required, select "No Entry for the account titles and enter for the amounts.) Transaction entries: Date Account Titles and Explanation Debit Credit I + Closing entries: Debit Credit Date Account Titles and Explanation Dec 31 (To record net income/(loss)) Dec. 31 1 (To close dividend)