tin The articles of incorporation for Plum Corp. authorize the company to issue 100,000 $5 preferred shares and 500,000 common shares. During its first year of operations, Plum Corp. completed the following selected transactions: (Click the icon to view the transactions.) Required 1. Record the transactions in the general journal. 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Requirement 1. Record the transactions in the joumal. (Record debits first, then credits. Explanations are not required.) Dec 4, 2019: Issued 5,000 common shares to the consultants who formed the corporation, receiving cash of $140,000 Journal Entry Accounts Debit Credit Dec. Cash Common Shares Income Summary Dec. 13: Issued Land Preferred Shares Retained Earnings Date Debat Credit Choose from any list or enter any number in the input fields and then continue to the next question MacBook Air This Question: 4 pts 9 of 17 (0 complete) The articles of incorporation for Plum Corp. authorize the company to issue 100,000 $5 preferred share operations, Plum Corp. completed the following selected transactions: (Click the icon to view the transactions.) Required 1. Record the transactions in the general journal 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Dec. 13: Issued 500 preferred shares for cash of $55,000 Journal Entry Accounts Date Debit Credit Dec. 14: Issued Cash Common Shares Income Summary Land Preferred Shares Retained Earnings lued at $120,000. bit Credit Choose from any list or enter any number in the input fields and then continue to the next question MacBook Air operations, Plum Corp, completed the following selected transactions: (Click the icon to view the transactions.) Required 1. Record the transactions in the general journal 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Dec. 14: Issued 4,000 common shares in exchange for land valued at $120,000. Journal Entry Accounts Date Debit Credit Cash Common Shares Income Summary Nov. 30, 2020: E Land Preferred Shares Retained Earnings Date $120,000 net income into Retained Earnings Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air 5 @ # $ % 8 (Click the icon to view the transactions.) Required 1. Record the transactions in the general journal. 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020 Nov. 30, 2020: Eamed a profit for the fiscal year and closed the $120,000 net income into Retained Earnings. Journal Entry Accounts Date Debit Credit Nov. 30 Cash Common Shares Income Summary Requirement 2. Land Preferred Shares Retained Earnings Plum Corp. balance sheet at November 30, 2020 November 30, 2020 Choose from any list or enter any number in the input fields and then continue to the next question MacBook Air og w we ransactions.) Required 1. Record the transactions in the general journal. 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Requirement 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Plum Corp. Shareholders' Equity November 30, 2020 Contributed capital To shareholders Choose from any list or enter any number in the input fields and then continue to the next question MacBook Air POOOOOO 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November 30, 2020. Requirement 2. Prepare the shareholders' equity section of the Plum Corp. balance sheet at November Plum Corp. Shareholders Equity November 30, 2020 Contributed capital: 9,000 shares issued 5,000 shares issued 4,000 shares issued 500 shares issued Common shares, 500,000 shares authorized Other equity Preferred shares, $5,100,000 shares authorized Retained earnings Cho Total contributed capital Total shareholders' equity cha feda n and then continue to the next question. a then continue to the next question MacBook Air * oa 0 STATE WUUUUUUI corporation for Plum Corp. authorize the company to issue 100,000 $5 Brut a Corp. completed the following selected transactions: Icon to view the transactions.) transactions in the Dancaliumal 6 Transactions nt 1 2019 Dec 4 Issued 5,000 common shares to the consultants who formed the corporation, receiving cash of $140,000 13 Issued 500 preferred shares for cash of $55,000 14 Issued 4,000 common shares in exchange for land valued at $120,000 2020 Nov. 30 Eamed a profit for the fiscal year and closed the $120,000 net income into Retained Earnings. 13: Issued Print Dono Debit Credit ose from any list or enter any number in the input fields and then continue to the next question MacBook Air
