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On January 1,2024, Oriole Ltd. had the following shareholders' equity accounts:Common shares (1,040,000 issued) $1,560,000Retained...

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Accounting

On January 1,2024, Oriole Ltd. had the following shareholders' equity accounts:Common shares (1,040,000 issued) $1,560,000Retained earnings 1,872,000The 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 Issued 104,000 preferred shares for $50 per share.Mar 31 Paid quarterly dividend to preferred shareholders.June 30 Paid quarterly dividend to preferred shareholders.Aug. 12 Issued 94,000 common shares for $1.70 per share.Sept 30 Paid quarterly dividend to preferred shareholders.Dec 31 Paid quarterly dividend to preferred shareholders and a $0.25 per shere dividend to the common shereholders.Dec 31 Loss for the year was $100,500.A) Journalize the transactions and the entries to close dividends and the Income Summary account.B) Open general ledger accounts for the shareholders equity accounts, enter the beginning balances and post entries from the previous parts (C) Prepare the shareholders equity section of the balance sheet at December 31,2024, including any required disclosure. assume Oriole is reporting on under ASPE

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