Accounting 312- Ch 18

Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 104 million common shares, \$1 par per share. Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Juo retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare a statement of retained eamings for Brenner-Jude for the year ended 2021 . Complete this question by entering your answers in the tabs below. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-jude must have recorded during the year for these transactions. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Enter your answers in militions (1.e., 10,000,000 should be entered as 10).)