Required:

1. Journalize the transactions for the years 2023, 2024, and 2025. The company does not use a cash dividends account.

1. Record the issuance of shares.
2. Record the issuance of shares in exchange for organization efforts.
3. Record exchange of shares for PPE assets
4. Record the purchase of equipment
5. Records closed the income summary account
6. Record the issuance of preferred shares
7. Record to close the income summary account
8. Record the declaration of dividends
9. Record the payment of dividends
10. Record to close the income summary account