secos cas acoscos theseo 200 easy Matavnat Eierninge - Decevmber 31 Determined that net income for the yoar was 5350.000 INSTRUCTIONS fournaike the chosing transaction. Follow the following instructions to receive credit. 1. Date should bo spelled correctly and written as Month Day (ex, February 4). 2. Credit account tifles are automatically indented when title is entered. Do not indent marually. 3. Account titles must be spelled correctly. 4. Do not key s-signs within journal entries. The stockhoiders' equity acoounts of NeverBrokeAgain, Inc., at January 1, 2021, are as follows. Preferred Stock, $100 par, 7% $500,000 Common Stock, $10 par 800,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Par - Common Stock 200,000 Retained Earnings 500,000 There were no dividends in arrears on preferred stock. During 2021, the company had the following transactions and events. - December 31 Determined that net income for the year was $350,000. INSTRUCTIONS Journalize the closing transaction. Follow the following instructions to receive credit. 1. Date should be spelled correctly and written as Month Day (ex. February 4). 2. Credit account titles are automatically indented when title is entered. Do not indent manually. 3. Account titles must be spelled correctly. 4. Do not key \$-signs within journal entries. STRUCTIONS urnalize the closing transaction. Follow the following instructions to recelve credit. 1. Date should be spelled correctly and written as Month Day (ex. February 4). 2. Credit account fitles are automatically indented when title is entered. Do not indent manually, 3. Account tities must be spelled correctly. 4. Do not key S-signs within journal entries. ving to another question will save this response