Accounting*

Required: 1. Prepare the journal entries to record each of these transactions and to close the accounts, (if no entry is required for a transaction event, select "No journal entry required" in the first account field.) View transaction ist View journal entry worksheet No Transaction General Nou 1 Dahil a Credit 345,000 Cash Land Building Common share 21,500 2 Cash Preferred shares 3 Cash Common shares Preferred shares 4 1 Ravenues Expenses Income summary 5 6-2 Income summary Rotined earnings 2. This part of the question is not part of your connect assignment 3. Prepare the shareholders' equity section of the statement of financial position for King Corporation at the end of year 1 KING CORPORATION shareholders Equity Share capital Pred share Common shares Rated coming To harsholder