Question $1($appreciate your help $())$

Petra Corporation's general ledger shows the following account balances

among others on Dec $31,2022$:

Preferred shares, no par value, $8\%,$ cumulative and participating, $1,000$

issued & outstanding

$100,000$

Common shares, no par value, $20,000$ authorized, $6,000$ issued, and

outstanding

$270,000$

Contributed Surplus$-$common shares

$1,000$

Contributed Surplus$-$Preferred shares

$10,000$

Retained earnings

Total shareholders equity

Instructions:

The following transactions occurred during $2023$

A$)$ Jan $10,$ Issued $1,000$ common shares at $$25$ per share for cash

B$)$ Feb $8,$ Bought and canceled $200$ common shares at $$20$ per share

C$)$ Issued $1,000$ preferred shares for $$10$ per share cash

D$)$ Mar $9,$ Issued $200$ common shares at $$40$ per share for cash

E$)$ Apr $9,$ Bought and canceled $200$ common shares at $$50$ per share

F$)$ June $6,$ Bought and canceled $2,000$ common shares at $$50$ per share

G$)$ July $2$ declare cash dividends amount of $$3$ per common share and

$8\%$ for preferred shares, for the date of records Aug $24,$ payable on Oct

Required:

Prepare the journal entries for the above transactions

After all the above transactions, prepare a partial balance sheet to

present shareholders' equity.