Diamond Jewellery Limited reported the following summarized balance sheet at December 31, 2019: E (Click the icon to view the statement.) (Click the icon to view the transactions.) Requirements 1. Journalize Diamond's transactions. Explanations are not required. 2. Report Diamond Jewellery Limited's shareholders' equity at December 31, 2020. Net income for 2020 was $23,000 Requirement 1. Journalize the transactions. (Record debits first, then credits. Explanations are not required.) February 13: Issued 5,700 common shares for $7 per share. Journal Entry Date Accounts Debit Credit Feb. 13 Cash 39900 Common Shares 39900 June 7: Declared the regular cash dividend on the preferred shares. 7. Journal Entry Date Accounts Debit Credit June 7 Retained Earnings Dividends Payable July 24: Paid the cash dividend. Journal Entry Date Accounts Debit Credit July 24 Dividends Payable Cash August 9: Declared a 10 percent stock dividend on the common shares. Market price of the common shares was $8 per share. Journal Entry Accounts Debit Credit Date Aug. 9 Retained Earnings Common Shares August 23: Distributed the stock dividend. Journal Entry Date Accounts Debit Credit Aug. 23 Retained Earnings Diamond Jewellery Limited reported the following summarized balance sheet at December 31, 2019: (Click the icon to view the statement.) (Click the icon to view the transactions.) Requirements 1. Journalize Diamond's transactions. Explanations are not required. 2. Report Diamond Jewellery Limited's shareholders' equity at December 31, 2020. Net income for 2020 was $23,000. Journal Entry Date Accounts Debit Credit July 24 Dividends Payable Cash August 9: Declared a 10 percent stock dividend on the common shares. Market price of the common shares was $8 per share. Journal Entry Date Accounts Debit Credit Aug. 9 Retained Earnings Common Shares August 23: Distributed the stock dividend. Journal Entry Date Accounts Aug. 23 Retained Earnings Debit Credit Common Shares November 20: Sold 1100 common shares for $11 per share. Journal Entry Date Accounts Debit Credit Nov. 20 Cash 12100 Common Shares 12100 Requirement 2. Report Diamond Jewellery Limited's shareholders' equity at December 31, 2020. Net income for 2020 was $23,000. (Enter the accounts in the proper order.) Shareholders' Equity: $0.90, cumulative preferred shares, 500 shares issued Common shares, 14,190 shares issued Retained earnings Total shareholders' equity Diamond Jewellery Limited reported the following summarized balance sheet at December 31, 2019: E (Click the icon to view the statement.) (Click the icon to view the transactions.) Requirements 1. Journalize Diamond's transactions. Explanations are not required. . 2. Report Diamond Jewellery Limited's shareholders' equity at December 31, 2020. Net income for 2020 was $23,000. - X Transactions Date July 24 Divi Cas During 2020, Diamond completed these transactions that affected shareholders' equity: Feb. 13 Issued 5,700 common shares for $7 per share. June 7 Declared the regular cash dividend on the preferred shares. July 24 Paid the cash dividend. Aug. 9 Declared a 10 percent stock dividend on the common shares. Market price of the common shares was $8 per share. Aug. 23 Distributed the stock dividend. Nov. 20 Sold 1100 common shares for $11 per share. August 9: Declared Date Aug. 9 Ret Cor Print Done August 23: Distribute Statement Date Aug. 23 Reta Assets Current assets Con 33.700 54,700 Property and equipment, net $ 88,400 Total assets November 20: Sold Liabilities and Equity Liabilities 37,400 Shareholders' equity: 6,500 Date Nov. 20 $0.90 cumulative preferred shares, 500 shares issued Common shares, 6,200 shares issued Cas 24,500 20,000 Con Retained earnings $ 88,400 Total liabilities and equity boo. Print Done Requirement 2. Repl (Enter the account Shareholders' Ed $0.90, cumulat , Common shares, 14, 190 shares issued Retained earnings Total shareholders' equity