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questions. Part A (12 marks). Dr. Pepper started EutureBio, Inc. (FB) on October 1, 2022. a) On October 1, 2022, FB issued 1000 common
questions. Part A (12 marks). Dr. Pepper started EutureBio, Inc. (FB) on October 1, 2022. a) On October 1, 2022, FB issued 1000 common shares to Dr. Pepper in exchange for $100,000 in cash. Also, the following events occurred in December 2022. b) On December 1, 2022, FB borrowed $1,200,000, 5-year loan, bearing 8% interest. c) On December 10, 2022, FB issued 1000 preferred Class A shares to investors for $500 each. The articles of incorporation (charter) disclosed that the Class A, non-cumulative preferred shares had a stated value of $ 200 per share. d) On December 28, 2022, FB declared and paid a 5% stock dividend on the common shares. The market value of the common shares before the announcement of the stock dividend was $ 80 per share. e) On December 30, 2022, FB paid a dividend to the common shareholders of record of $50 per share. Required: Please prepare the necessary journal entries for the above transactions as well as any adjusting entries required at the year-end date December 31, 2022. Narratives are NOT required. Date 10/1/2022 Account Debit Credit 12/1/2022 12/10/2022 12/28/2022 12/30/2022 12/31/2022 11 Page 11 of 14 2781 words Focus 100%
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