can someone solve this? plz explain a bit also? Thanks

.com/courses/44948/assignments/557938 --/1 Question 2 View Policies Current Attempt in Progress port Concord Corporation is authorized to issue an unlimited number of $5 cumulative preferred shares and an unlimited number of common shares. On February 1, 2020, the general ledger contained the following shareholders' equity accounts: Preferred shares (10,000 shares issued) $450,000 Common shares (75,000 shares issued) 1.275.000 Retained earnings 758,000 The following equity transactions occurred during the year ended January 31, 2021: Feb. 28 Issued 5,800 preferred shares for $319,000. Apr. 12 Issued 200,000 common shares for $3.60 million May 25 Issued 5,800 common shares in exchange for land. At the time of the exchange, the land was valued at $98,600. Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 A loss of $51,000 was incurred for the year. Journalize the transactions and the entries to close dividends and the income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Desktop ENG 3:22 PM 6/2020 x C Golden Valley Corporation A Corporation is authorit * plus.com/courses/44948/assignments/557 Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 A loss of $51,000 was incurred for the year. Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 28 Cash 319000 Preferred Shares 319000 (To record issuance of shares.) Apr. 12 Cash 3600000 Common Shares 3600000 (To record issuance of shares.) May 25 Building 104400 Common Shares 98600 (To record issuance of shares) Jan. 1 Preferred Shares 485500 Cash Dividends - Preferred 485500 1 Desktop Ad) ENG CA G Concord Corporation is authone x + wileyplus.com/courses/44948/as Open general ledger accounts for the shareholders' equity accounts and post entries from previous part. (Post entries in the order of Journal entry presented in the previous part (a).) Preferred Shares Date Explanation Feb. 1 Balance Ref. Debit Credit Balance Feb. 28 J1 Common Shares Date Explanation Feb. 1 Balance Ref. Debit Credit Balance 2 Apr. 12 J1 May 25 J1 Cash Dividends Preferred Date Explanation Ref. Jan. 1 J1 Debit Credit Balance J1 Jan. 31 Closing entry Retained Earnings Date Explanation Ref. Debit Credit Balance Feb. 1 Balance Desktop 6 ENG com/course/44941 List of Prepare the shareholders' equity section of the balance sheet at January 31, 2021, including any required disclosures. Assume Concord is reporting under ASPE and there were no preferred dividend arrears at January 31, 2020. (Enter account name only and do not provide descriptive information) CONCORD CORPORATION Balance Sheet (Partial) $ e Textbook and Media 33 PM Desktop D .com/courses/44948/assignments/557938 --/1 Question 2 View Policies Current Attempt in Progress port Concord Corporation is authorized to issue an unlimited number of $5 cumulative preferred shares and an unlimited number of common shares. On February 1, 2020, the general ledger contained the following shareholders' equity accounts: Preferred shares (10,000 shares issued) $450,000 Common shares (75,000 shares issued) 1.275.000 Retained earnings 758,000 The following equity transactions occurred during the year ended January 31, 2021: Feb. 28 Issued 5,800 preferred shares for $319,000. Apr. 12 Issued 200,000 common shares for $3.60 million May 25 Issued 5,800 common shares in exchange for land. At the time of the exchange, the land was valued at $98,600. Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 A loss of $51,000 was incurred for the year. Journalize the transactions and the entries to close dividends and the income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Desktop ENG 3:22 PM 6/2020 x C Golden Valley Corporation A Corporation is authorit * plus.com/courses/44948/assignments/557 Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 A loss of $51,000 was incurred for the year. Journalize the transactions and the entries to close dividends and the Income Summary account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 28 Cash 319000 Preferred Shares 319000 (To record issuance of shares.) Apr. 12 Cash 3600000 Common Shares 3600000 (To record issuance of shares.) May 25 Building 104400 Common Shares 98600 (To record issuance of shares) Jan. 1 Preferred Shares 485500 Cash Dividends - Preferred 485500 1 Desktop Ad) ENG CA G Concord Corporation is authone x + wileyplus.com/courses/44948/as Open general ledger accounts for the shareholders' equity accounts and post entries from previous part. (Post entries in the order of Journal entry presented in the previous part (a).) Preferred Shares Date Explanation Feb. 1 Balance Ref. Debit Credit Balance Feb. 28 J1 Common Shares Date Explanation Feb. 1 Balance Ref. Debit Credit Balance 2 Apr. 12 J1 May 25 J1 Cash Dividends Preferred Date Explanation Ref. Jan. 1 J1 Debit Credit Balance J1 Jan. 31 Closing entry Retained Earnings Date Explanation Ref. Debit Credit Balance Feb. 1 Balance Desktop 6 ENG com/course/44941 List of Prepare the shareholders' equity section of the balance sheet at January 31, 2021, including any required disclosures. Assume Concord is reporting under ASPE and there were no preferred dividend arrears at January 31, 2020. (Enter account name only and do not provide descriptive information) CONCORD CORPORATION Balance Sheet (Partial) $ e Textbook and Media 33 PM Desktop D