Q4 - Provisions and Reserves (6 marks) The Extract from the Statement of Financial Position of John Ltd as at 1 July 2022 was as follows: Current Liabilities Final Dividend Paid - Ordinary $ 50,000 Share Capital 2,000,000 Ordinary Shares issued price of $1 fully paid $2,000,000 General Reserve Retained Earnings $100,000 $550,000 Assets Land Buildings Accumulated Depreciation of Buildings $1,000,000 $500,000 $150,000 During the financial year ending 30 June 2023, the following transactions occurred: Prepare the general journal entries to record these transactions. On 31 July 2022 the final dividend provided of $50,000 was paid On 31" September 2022 we provided for an interim dividend of $75,000 and this was paid on 30 November 2022. At the 30" June 2023, the following adjustment were made: The Directors declared a final dividend of $80,000 An increase in the general reserve by $15,000 The Directors have revalued the buildings to $620,000 Create a dividend reserve of $15,000 Date Particulars Debit Credit