Clicker Question Preparation Guide: Ch. 11 & 12 Clicker questions will be asked in class based on your completion of this preparation guide. You will not have time to complete this guide in class! 1) NetApp Co. issues 9,250 shares of $4.75 par value common stock for $12 per share. a. What is the journal entry to record this transaction? (You may or may not need all rows of this textbox). b. NetApp Co. repurchases 600 of its own common shares for Treasury for $8.25 per share. What is the journal entry to record this transaction? (You may or may not need all rows of this textbox). C. Assuming the above transactions represent all of the common stock activity of NetApp Co., how many common shares are issued? d. Assuming the above transactions represent all of the common stock activity of NetApp Co., how many common shares are in treasury? e. Assuming the above transactions represent all of the common stock activity of NetApp Co., how many common shares are outstanding? 2) On Nov. 22, 2019, the board of directors of Central Inc. declared a $14.00 per share cash dividend on 210,000 shares of $2 par value common stock. The dividend will be paid to stockholders' who own shares on Dec. 24, 2019. The dividend will be paid on Feb. 8, 2020. What journal entry, if any, is required on each of the following dates? a. Nov. 22, 2019 b. Dec. 24, 2019 c. Feb. 8, 2020 3) Shadwell Co. began the year with an accounts receivable balance of $108,600, and ended the year with an accounts receivable balance of $53,200. During the year, Shadwell Co. recorded $623,900 of sales on account. How much cash did Shadwell Co. collect from its customers during the year? 4) Charlie's Pillow Co. began the year with an accounts payable balance related to inventory purchases of $19,000. The balance in the account at the end of the year was $63,100. During the year, Charlie's Pillow Co. purchased $154,200 of inventory on account. How much cash did Charlie's Pillow Co. pay for inventory purchases during the year? 5) Fill in the table by indicating if it is an increasing (+) or decreasing (-) transaction. Also indicate if it is an operating (O), investing (6), or financing (F), activity. + or - 0, 1, or F a. Cash payment of dividends 4,732 b. Cash payment for inventory 235,063 C. Cash payment for expenses 6,200 d. Cash payment for wages 42,670 e. Cash payment for interest expense 342 f. Cash payment for purchase of equipment 53,641 g. Cash payment for repayment of debt 60,502 h. Cash collection of accounts receivable 507,502 i. Cash collection of interest revenue 8,240 j. Cash collection of dividend revenue 3,200 k. Cash proceeds from sale of equipment 22,000 1. Cash proceeds from sale of common stock 32,700 6) Using the information in the table from question 5), complete the following statement of cash flows using the direct method. List each transaction and amount under the appropriate section. Be sure to indicate if it is increasing or decreasing (+ or -). You may not need to use all of the lines. Cash from Operating Activity Amount a. Net cash activity (provided or used) by operating - Cash from Investing activity Amount b. Net cash (provided or used) by investing activity Cash from Financing Activity Amount (provided or used) by financing c. Net cash activity 11,250 d. Net change in cash during period Cash at beginning of period e. Cash at end of period