On January 1, 2024, Wildhorse Ltd. had the following shareholders' equity accounts: Common shares (1,100,000 issued)...

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On January 1, 2024, Wildhorse Ltd. had the following shareholders' equity accounts: Common shares (1,100,000 issued) Retained earnings 1650000 1980000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Mar 3. June 30 Aug. 12 Sept. 30 Dec. 31 Dec 31 Issued 110,000 preferred shares for $50 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders. Issued 106,000 common shares for $1.70 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common Loss for the year was $103,500. Journalized the transactions and the entries to close dividends and the Income Summary account. Date Accounts Tittle (To record dividends paid) (To close Income Summary) (To close dividends) Debit Credit On January 1, 2024, Wildhorse Ltd. had the following shareholders' equity accounts: Common shares (1,100,000 issued) Retained earnings 1650000 1980000 The company was also authorized to issue an unlimited number of $4 noncumulative preferred shares. As at January 1, 2024, none had been issued. During 2024, the corporation had the following transactions and events related to its shareholders' equity: Jan. 2 Mar 3. June 30 Aug. 12 Sept. 30 Dec. 31 Dec 31 Issued 110,000 preferred shares for $50 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders. Issued 106,000 common shares for $1.70 per share. Paid quarterly dividend to preferred shareholders. Paid quarterly dividend to preferred shareholders and a $0.25 per share dividend to the common Loss for the year was $103,500. Journalized the transactions and the entries to close dividends and the Income Summary account. Date Accounts Tittle (To record dividends paid) (To close Income Summary) (To close dividends) Debit Credit