UWOUL html Grammarly Now Tab MyLab & Mastering... Q Justin_grechi Quizlet M McGraw-Hill Connect #2 (Weighted 3%) Zen Aerospace Corporation reported the following equity account balances on December 31, 2014: Saved Preferred shares, $3.60 cumulative, unlimited shares authorized Common shares, unlimited shares authorized, 20,500 shares issued and outstanding 565,800 Relained earnings 325,000 In 2020, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. 1 Purchased and retired 2,100 common shares al $36 per share. 14 The directors declared an 8% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading al $45.70 per share. 30 Date or record regarding the 8% share dividend. Feb. 5 Date of distribution regarding the xx share dividend. July 6 Sold 5,100 preferred shares at $61 per share Sept. 5 The directors declared a total cash dividend of $48.000 payable on October 5 1 The September 20 shareholders of record. Oct. 5 The cash dividend declared on September 5 was paid. ---- Closed the $166,500 credil balance in the Profit Summary account to 31 Closed the dividend accounts. --- - - - Required 1. Prepare journal entries to record the transactions and closings for 2020 (assume the retirements were the first ever recorded by Zen Aerospace). Assume share dividends and cash dividends account is used when dividends are declared. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 345555411_143167....jpg g 8 34597269 28R963.jpg 4597269 831296.jpg acer 2. Prepare the statement of changes in equity for the year ended December 31, 2020. (Amounts to be deducted should be indicated by a minus sign. Round the final answer to the nearest whole dollar.) ZEN AEROSPACE CORPORATION Statement of Changes in Equity For Year Ended December 31, 2020 Preferred Common Shares Shares Retained Earnings Total Equity Balance, January 1 DU 1 o - LS LLLLLLL 1 - Balance December 31 Prev 2 3 Next > 94597264 225463...19 F 1417 540 540 113107.jpg jpg 84597269_831296. ...ing acer 3 W