Exercise 2 - Journalise share transactions Sport's Field Ltd was registered on 31 January 2019. It invited the public to subscribe to the issue of 35 000 ordinary shares for $1 per share: $0.60 due on application, $0.30 due on allotment and the balance due on call. Jan. 10 Prospectus issued. Mar. 1 Received applications for 35 000 shares. Mar. 2 Allotted 35 000 ordinary shares. Mar. 31 All allotment money received. Nov. 1 Remaining capital called. Nov. 30 All money due on call is received. Required a. Journalise the transactions. b. Post to the equity accounts (use T accounts). c. What is the share capital of Sport's Field Ltd at 1 December?Exercise 3 - Prepare dividend entries On 1 January 2019, Rake Ltd had equity accounts as follows. Share capital (60 000 shares issued for $30 each) $1 800 000 General reserve 250 000 Retained earnings 900 000 During the year, the following transactions occurred. Feb. 1 Declared a $0.60 cash dividend per share to shareholders, payable on 1 March. Mar. 1 Paid the dividend declared in February. July 1 Declared a 10% share dividend to shareholders, distributable on 31 July. On 1 July the market price of the shares was $40 per share and this was determined to be the amount at which the dividend shares would be issued. July 31 Issued the shares for the share dividend. Dec. 1 Declared a cash dividend of $0.50 per share on 15 December, payable on 5 January 2020 Required a. Journalise the transactions. b. Enter the beginning balances and post the entries to the equity T accounts. c. Prepare the equity section of Rake Ltd's statement of financial position as at 31 December