Prepare Journal Entries for Shareholders' Equity Transactions
a Partial List

Prepare journal entries for shareholders' equity transactions
A partial list of the ledger accounts of Hellman Company is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction.
$\begin{array}{|l|l|l|l|l|}\hline 1 & \text { Cash } & & 21 & \text { Ordinary Share \$ 2 Par } \\\hline 2 & \text { Land } & & 25 & \text { Share Premium } \\\hline 3 & \text { Organization Costs } & & 26 & \text { Donated Capital } \\\hline 10 & \text { Dividends Payable } & & 30 & \text { Retained Earnings } \\\hline 20 & \begin{array}{l}\text { Preference Share } \$ 100 \\\text { Par }\end{array} & &40 & \text { Income Summary } \\\hline\end{array}$
$\begin{array}{llr} \text { Transactions }&\text { Account(s) } & \text { Account(s) } \\&\text { Debited } & \text { Credited }\\ \text { Example Issued preference share for cash at a price above par.} &1&20,25\\ \text { (a) The City of Hantford donated land to Hellman Comp any to be used as a building site. } &\\ \text {(b) Declared a cash dividend on ordinary shares. } &\\ \text { (c) 10,000 ordinary shares are issued at price above par.} &\\ \text { (d) 1,000 shares of \( \$ 2 \) par ordinary shares are issued in exchange for attoney } &\\ \text { services relating to formation of corporation, value \( \$ 3,750 \) } &\\ \text { (e) Income Summary account is closed at the end of a period in which Hellman } &\\ \text { Company reported a net loss } &\\ \text { (f) The dividend dectared in b above is paid. } &\\\end{array}$