CH13 & CH13.1 Do In Class Handout Name: Date: Ch13.0 Cayman Corporation begins operations on March I by issuing 100,000 shares of SI par value common stock for cash at S12 per share. On March 15, it issues 5,000 shares of common stock to attorneys in settlement of their bill of S50,000 for organization costs. On March 28, Cayman Corporation issues 1,500 shares of S10 par value preferred stock for cash at $30 per share. Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded Ch13.1 MasterMind Corporation has 2,000 shares of 6%, $100 par value preferred stock outstanding at December 31, 2017. At December 31, 2017, the company declared a $60,000 cash dividend. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios 1.The preferred stock is noncumulative, and the company has not missed any dividends in previous ycars 2.The preferred stock is noncumulative, and the company did not pay a dividend in each of . the two previous years. 3.The preferred stock is cumulative, and the company did not pay a dividend in each of the . two previous years. Ch13.2 Sing CD Company has had five years of record earnings. Due to this success, the market price of its 500,000 shares of $2 par value common stock has tripled from $15 per share to $45. During this period, paid-in capital remained the same at $2,000,000. Retained carnings increased from $1,500,000 to $10,000,000. President Joan Elbert is considering either a 10% stock dividend or a 2-for-I stock split. She asks you to show the before-and-after effects of each option on retained earnings, total stockholders' equity, shares outstanding, and par value per share. Ch13.3 Vega Corporation has retained earnings of $5, 130,000 on January 1, 2017. During the year, Vega earned $2,000,000 of net income. It declared and paid a $250,000 cash dividend. In 2017, Vega recorded an adjustment of $180,000 due to the understatement (from a mathematical error) of 2016 depreciation expense. Prepare a retained earnings statement for 2017