Earth Star Diamonds Inc began a potentially lucrative mining operation on October 1, 2020. It is authorized to issue 100,000 shares of $0.60 Cumulative preferred shares and 500,000 common shares. The company uses the cash dividends account to keep track of all dividends declared Part A Required: Prepare journal entries for each of the transactions listed DEL 1 s fot saat 1,000 shares he pretend that Erond to neak, 57000 Set the NF4.50 per share 15 The chamed land for $191,000. paying cash of sea and Herring the balance to the band be sepan 2500 preferred hacen we day pred of SDS. 34 Thin the destacar the pretenderen indende o 10 declared there today payan. Wer 120 H. 1990.000 EUR - Cash talling aab, 000 Herneuted and the come unnary and ante Answer is not complete, Dale General Journal Debit Credit 1 October 01.2020 4.400 Preferred dividendegable 4,400 Odber 10, 2020 Cash 147 200 3 Commons 147200 Dober 15 2020 Land G 1820.000 000 CE -- 3 October 16, 2020 L 1,820.000 Cash S0 84,000 118.DOO Notes payable 4 October 20, 2020 Cash 72.800 Preferred shares 72.800 x 5 October 24, 2020 Retained earings 20.840 205.840 Common dividends payable Retained in Preferred dividends payable 8 400 x 9.400 X October 31, 2020 Cash BOD 000 Revenues O 380.000 October 31, 2020 Income summary 280.000 Cath 280.000 8 October 31, 2020 Income Summary Geo31, 2020 Retained earnings Condividend payable Based on the transactions in Part A prepare the balance sheet as at October 31, 2020 Answer is het complete ER SIAR DIAMONDS Bate Sheet October 31, 20 Assets Cuentasse 3 740.400 Property plant and equipment Land 192,000 Total 3922.400 Libilities Currentilities Dides payable 36,240 Non Ourebilities Longum note payable 118.000 $153.240 Equity Cebuted Capital Pred shares, 50.00 Guitive 100.000 19.500 short and outstanding 77/2003 Common, 500 000 shared, 7.000 scanding olo 10 Totted it Earth Star Diamonds Inc began a potentially lucrative mining operation on October 1, 2020. It is authorized to issue 100,000 shares of $0.60 Cumulative preferred shares and 500,000 common shares. The company uses the cash dividends account to keep track of all dividends declared Part A Required: Prepare journal entries for each of the transactions listed DEL 1 s fot saat 1,000 shares he pretend that Erond to neak, 57000 Set the NF4.50 per share 15 The chamed land for $191,000. paying cash of sea and Herring the balance to the band be sepan 2500 preferred hacen we day pred of SDS. 34 Thin the destacar the pretenderen indende o 10 declared there today payan. Wer 120 H. 1990.000 EUR - Cash talling aab, 000 Herneuted and the come unnary and ante Answer is not complete, Dale General Journal Debit Credit 1 October 01.2020 4.400 Preferred dividendegable 4,400 Odber 10, 2020 Cash 147 200 3 Commons 147200 Dober 15 2020 Land G 1820.000 000 CE -- 3 October 16, 2020 L 1,820.000 Cash S0 84,000 118.DOO Notes payable 4 October 20, 2020 Cash 72.800 Preferred shares 72.800 x 5 October 24, 2020 Retained earings 20.840 205.840 Common dividends payable Retained in Preferred dividends payable 8 400 x 9.400 X October 31, 2020 Cash BOD 000 Revenues O 380.000 October 31, 2020 Income summary 280.000 Cath 280.000 8 October 31, 2020 Income Summary Geo31, 2020 Retained earnings Condividend payable Based on the transactions in Part A prepare the balance sheet as at October 31, 2020 Answer is het complete ER SIAR DIAMONDS Bate Sheet October 31, 20 Assets Cuentasse 3 740.400 Property plant and equipment Land 192,000 Total 3922.400 Libilities Currentilities Dides payable 36,240 Non Ourebilities Longum note payable 118.000 $153.240 Equity Cebuted Capital Pred shares, 50.00 Guitive 100.000 19.500 short and outstanding 77/2003 Common, 500 000 shared, 7.000 scanding olo 10 Totted it