Synchronica Corp. reported the following equity account balances on December

Synchronica Corp. reported the following equity account balances on December 31, 2013:
Common shares, unlimited shares authorized,
100,000 shares issued and outstanding........................................................ $ 960,000
Retained earnings............................................................................................. 1,296,000
The company completed these transactions during 2014:

Synchronica Corp. reported the following equity account balances on December

Required
1. Prepare General Journal entries to record the transactions and closings for 2014.
2. Prepare the equity section of the company’s balance sheet as of December 31,2014.

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