Zen Aerospace Corporation reported the following equity account balances on December 31, 2022: Preferred shares, $3.60 cumulative, unlimited shares authorized $ 0 Common shares, unlimited shares authorized, 27,000 shares issued and outstanding 745,200 Retained earnings 338,000

In 2023, the company had the following transactions affecting shareholders and the shareholders equity accounts: Jan. 1 Purchased and retired 3,400 common shares at $36 per share. 14 The directors declared an 11% share dividend distributable on February 5 to the January 30 shareholders of record. The shares were trading at $47.00 per share. 30 Date of record regarding the 11% share dividend. Feb. 5 Date of distribution regarding the 11% share dividend. July 6 Sold 6,400 preferred shares at $74 per share. Sept. 5 The directors declared a total cash dividend of $48,013 payable on October 5 to the September 20 shareholders of record. Oct. 5 The cash dividend declared on September 5 was paid. Dec. 31 Closed the $479,600 credit balance in the Profit Summary account to Retained Earnings. 31 Closed the dividend accounts. Required 1. Prepare journal entries to record the transactions and closings for 2023 (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.)

2. Prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign. Round the final answer to the nearest whole dollar.)

Zen Aerospace Corporation reported the following equity account balances on December 31, 2022: In 2023, the company had the following transactions affecting shareholders and the shareholders' equity accounts: Jan. 1 Purchased and retired 3,490 common shares at $36 per share. shares were trading at: $47.60 per share. 30 Date of record regarding the 11% share dividend. Feb. 5 Date of distribution regarding the 11% share dividend. July 6 5old 6,486 preferred shares at $74 per share. oct. 5 The cash dividend declared on September 5 was paid. Dec. 31 Closed the $479,689 credit balance in the Profit Summary account to Retained Earnings. 31 Closed the dividend accounts. Required 1. Prepare journal entries to record the transactions and closings for 2023 (assume the retirements were the first ever recorded by Zen Aerospace). Assume share divldends and cash divldends 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.) \begin{tabular}{l} \hline Vew transaction llst \\ \hline 3 Record the recording of common shares stock dividend. \\ \hline 4 Record the distribution of common shares stock dividend. \\ \hline 5 Record the issuance of preferred shares. \\ \hline 6 Record the cash dividend. Assume Company is using \\ Cash Dividend account. \\ \hline 7 Record the payment of cash dividend. \\ \hline 8 Record to close profit to retained earnings. \\ \hline 9 Record the closure of dividend accounts. \\ Note : = journal entry has been entered \end{tabular} 2. Prepare the statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign. Round the final answer to the nearest whole dollar.)