The following is the Issued Share Capital section of shareholders equity for the Larson Corporation of White Rock on June 1, 2013.

Issued Share Capital: Preferred Shares, no par value, $2 dividend, authorized 20,000 shares, 5,000 shares issued .................$125,000 Common Shares, no par value, authorized 100,000 shares, 20,000 shares issued............ $200,000 Total Issued Share Capital $325,000

The following transactions occurred in the months of June and July 2013: June 3: Issued 2,000 preferred shares at $28 per share. June 4: Issued 4,000 common shares at $13 per share. Jun 14: Issued 5,000 common shares at $16 per share. July 2: Issued 1,000 preferred shares at $29 per share. Jul 19: Issued 2,000 common shares in exchange for building and land with a fair market value of $25,000 and $29,000, respectively.

a. Journalize and post the above entries and update the shareholders equity ledger accounts provided in the workbook.

b. Prepare a new Share Capital section of shareholders equity as of July 31, 2013.