i just need S solved but heres the full problem so you have all the information

i meanr to write I just need D solved. which is the final part of the question. sorry for the confusion!

Transcribed Image Text:

After establishing their company's fiscal year-end to be October 31, Natalie and Curtis began operating Cookie & Coffee Creations Inc. on November 1, 2024. The company had the following selected transactions during its first fiscal year of operations. The new corporation is authorized to issue 50,000 shares of $1 par common stock and 10,000 shares of no par. $6 cumulative preferred stock Jan 1 Issued an additional 800 preferred shares to Natalie's brother for $4,000 cash Oct 15 Oct. 31 The company had a very successful first year of operations and as a result declared dividends of $28,000, payable November 15, 2025. The company earned revenues of $472,500 and incurred expenses of $416,500 (excluding income tax). Record Income tax expense, assuming the company has a 20% income tax rate. (5) Your answer is correct Prepare the journal entries to record each of the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem, if no entry is required, select "No Entry for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) count Titles and Explanation Cash Debit 4000 Credit Preferred Stock 4000 Cash Dividends 20000 Dividends Payable 28000 lecomse To Experie 11200 Income Taxes Payable 11200 List of Accounts Using multiple attempts will impact your score. 10% score reduction after attempt 2 Attempts: 1 of 3 used After establishing their company's fiscal year-end to be October 31, Natalie and Curtis began operating Cookie & Coffee Creations Inc. on November 1, 2024. The company had the following selected transactions during its first fiscal year of operations. The new corporation is authorized to issue 50,000 shares of $1 par common stock and 10,000 shares of no par. $6 cumulative preferred stock Jan 1 Issued an additional 800 preferred shares to Natalie's brother for $4,000 cash Oct 15 Oct. 31 The company had a very successful first year of operations and as a result declared dividends of $28,000, payable November 15, 2025. The company earned revenues of $472,500 and incurred expenses of $416,500 (excluding income tax). Record Income tax expense, assuming the company has a 20% income tax rate. (5) Your answer is correct Prepare the journal entries to record each of the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem, if no entry is required, select "No Entry for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) count Titles and Explanation Cash Debit 4000 Credit Preferred Stock 4000 Cash Dividends 20000 Dividends Payable 28000 lecomse To Experie 11200 Income Taxes Payable 11200 List of Accounts Using multiple attempts will impact your score. 10% score reduction after attempt 2 Attempts: 1 of 3 used