9. Kelly, Incorporated, was issued a charter on January 15, 2022, that authorized the following capital stock: Common stock, $6 par, 100,000 shares. Preferred stock, 7 percent, par value $10 per share, 5,000 shares. During 2022, the following selected transactions were completed in the order given: (1) ISSUE C/S - Sold and issued 20,000 shares of common stock at $18 cash per share. (2) ISSUE P/S - Sold and issued 3,000 shares of preferred stock at $22 cash per share. (3) CLOSE THE BOOKS - At the end of 2022, the accounts showed Revenue of $150,000 and Expenses of $112,000. Record the journal entries for each of these transactions. For (3) you can use a summary "revenue" account and summary "expense" account. Accounts Date Icash Common Stock APIC-C/S Cash Prefered Stock APIC- P/S Kelly incorporate d partial Balance Sheet December 31, 2002 Stockholder's equity paid in capital Capital Stacki perFered Stock! common stock: ToTaL captial stook: Additional paid in capital APIC - P/S APIC-C/S Next, prepare the stockholders' equity section of the balance sheet on December 31, 2022. (IN PROPER FORM). Total additionL paid in capital Total paid in capital Debit 360,000 Retained earnings Total paid in capital & R/E Les s: Treasury Stock 66,000 Credit TOTAL Stock holders equity: 120,000 240,000 30,000 36,000

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9. Kelly, Incorporated, was issued a charter on January 15, 2022, that authorized the following capital stock: Common stock, $6 par, 100,000 shares. Preferred stock, 7 percent, par value $10 per share, 5,000 shares. During 2022, the following selected transactions were completed in the order given: (1) ISSUE C/S - Sold and issued 20,000 shares of common stock at $18 cash per share. (2) ISSUE P/S - Sold and issued 3,000 shares of preferred stock at $22 cash per share. (3) CLOSE THE BOOKS - At the end of 2022, the accounts showed Revenue of $150,000 and Expenses of $112,000. Record the journal entries for each of these transactions. For (3) you can use a summary "revenue" account and summary "expense" account. Date Accounts cash Debit 360.000 Credit Common Stock APIC-C/S 120,000 240,000 Cash 66.000 Prefered Glock 30000 APIC-P/S 36.000 Next, prepare the stockholders' equity section of the balance sheet on December 31, 2022. (IN PROPER FORM). Kelly incorporated partial Balance Sheet December 3, 2022 Stockholder's equity paid in capital capital stacki Perfered Stock! common stock Total captial Stook: Additional paid in capital APIG-PIS APIC-G/S Total addrtant paid in capital Total paid in capital Retained earnings Total paid in capital & E Les 5: Treasury Stock TOTAL stock holders equity: 9. Kelly, Incorporated, was issued a charter on January 15, 2022, that authorized the following capital stock: Common stock, $6 par, 100,000 shares. Preferred stock, 7 percent, par value $10 per share, 5,000 shares. During 2022, the following selected transactions were completed in the order given: (1) ISSUE C/S - Sold and issued 20,000 shares of common stock at $18 cash per share. (2) ISSUE P/S - Sold and issued 3,000 shares of preferred stock at $22 cash per share. (3) CLOSE THE BOOKS - At the end of 2022, the accounts showed Revenue of $150,000 and Expenses of $112,000. Record the journal entries for each of these transactions. For (3) you can use a summary "revenue" account and summary "expense" account. Date Accounts cash Debit 360.000 Credit Common Stock APIC-C/S 120,000 240,000 Cash 66.000 Prefered Glock 30000 APIC-P/S 36.000 Next, prepare the stockholders' equity section of the balance sheet on December 31, 2022. (IN PROPER FORM). Kelly incorporated partial Balance Sheet December 3, 2022 Stockholder's equity paid in capital capital stacki Perfered Stock! common stock Total captial Stook: Additional paid in capital APIG-PIS APIC-G/S Total addrtant paid in capital Total paid in capital Retained earnings Total paid in capital & E Les 5: Treasury Stock TOTAL stock holders equity: