transactions. S13-6 Shock Limited reported the following partial list of accounts: Identify the accounts which belong in the shareholders' equity section of the Shock Limited balance sheet. Calculate the total shareholders' equity. S13-8 On December 10, HoHo Limited declared the annual cash dividend on its 5,000 $3.00 preferred shares and a $0.60 per share cash dividend on its 50,000 common shares. HoHo Limited then paid the dividends on January 8, 2020. HoHo Limited earned net income of $85,000 during the year ended December 31,2019 , and has sufficient cash to pay the dividends. 1. Journalize the declaration of the cash dividends on December 10, 2019. 2. Journalize the payment of the cash dividends on January 8, 2020