shgnmer Problem 12-1BB HO The corporation's charter Lasser Corporation began operations on October 1, authorized 300,000 shares of $8 par value common stock. Laser engaged in the following transactions during its first quarter: Oet 1 Issued 50,000 shares of common stock, for a total of $500,000. Paid an attorney $32,000 to help organize the corporation and obtain the corporate charter from the state. 1 2 Issued 80,000 shares of common stock for a total of $960,00o. respectively in exchange for issuing a 6-month note of $40,000 and 18,750 common shares. Dec 30 The board of directors declared a cash dividend of 40 cents (5.40) per share. Complete the closing entry for the result of Revenues of $480,000 and Expenses of $340,000 (assume revenues and expenses have already been closed). 30 Instructions: 1. Record all transactions a 2-column joumal in great form 2. Prepare a set of t-accounts and post each entry-be sure to label each entry 3. Complete a classified Balance Sheet in great form