Question: Shown below in Taccount format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2024 . On January 1, 2024, the corporation had





Shown below in Taccount format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2024 . On January 1, 2024, the corporation had outstanding 107 million common shares, $1 pat ber share Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected BrennerJude's retained earnings during 2024. Prepare the journal entries that Brenner Jude must have recorded during the year for these transactions. (Hint in lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2024. Complete this question by entering your answers in the tabs below. Record the retirement of common shares. Note: Enter debits before credits. Record the closing entry for net income. Note: Enter debits before credits. Journal entry worksheet Record the declaration and payment of a cash dividend. Note: Enter debits before credits. Record the declaration and distribution of a stock dividend. Note: Enter debits before credits. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2024. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10)
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