$H17$

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$1$

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$1$ Question $3$: Shareholders' Equity $(12$ marks$)$

$2$ Male sure you scroll down to the bottom of each worlsheet undil you see "End of question $q,*$ This will ensure you've answered all partsi

During $202],$ the following transactions affected shareholders' equity of King

$7,300$ new common shares were issued at $$\frac{15}{?}$ share on March $10,2023.$

$7,300$ new preferred shares were issued at $$35/$share on March $10,2023.$

$4,300$ new preferred sividends for the year was declared on December $1,2027,$ This amount will be paid in lanuary $2024,$

$46,300$ in preferred dividends for the year was declared on December $1,2023$ This amount will be prid in January $2024$

Required

Provide the journal entries for each of the transactions.

Please be mindful of the timer in the moodle quiz. Check your time after each question.

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If you experience technical difficulties, please go back to the coversheet for instructions on how to proceed.

$2.$ Complete the statement of changes in shareholder's equity. King Corporation earned $$755,000$ in net income in $2023.$

Statement of Changes in Shareholder's Equity

Year Ended December $31,2023$

$25$

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$17$

$18$

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r

$19$

$20$

$21$

End of Question $3$