Question: Hey, can someone please help with this accounting question? Question 21 On 1 January 2022, Smithfield Lid's share capital comprised 10,000 issued ordinary shares ($150,000)

Hey, can someone please help with this accounting question?

Question 21 On 1 January 2022, Smithfield Lid's share capital comprised 10,000 issued ordinary shares ($150,000) and retained earnings of $25,000. During the year, the following transactions occurred. Not yet saved Marked out of Mar 1 Declared a cash dividend of $1.20 per share to ordinary 3.00 shareholders. P Flag Sep 1 Paid the $1.20 share dividend. question Required: (a) Prepare the journal entries to record the above transactions. (2 marks) (b) Calculate the total amount of equity of Smithfield Lid as at 31 December 2022. Assume profit for the year 2022 was $22,000. (1 mark) Narrations are not required. 7 A . BUI J O OFF BE a) Date Account Titles Debit Credit b) Date `Account Titles Debit Credit

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