I need help with just the exercises. Please do not leave anything out. Short deadline. Thank you

CHAPTER 11 HOMEWORK ASSIGNMENT #3 QUESTIONS 1. What is the unique feature of a corporation income statement? Illustrate this feature, using assumed data. 2. How is basic earnings per share computed? 3. Under what circumstances must a corporation compute diluted earnings per share? How is diluted earnings per share computed? 4. What is comprehensive income? How may comprehensive income be disclosed? 5. Three dates are important in connection with cash dividends. Identify these dates, and explain their significance to the corporation and its stockholders. 6. Gorton Corporation has 30,000 shares of $10 par value common stock outstanding when it announces a 2-for-1 stock split. Before the split, the stock had a market price of $120 per share. After the split, how many shares of stock will be outstanding? What will be the approximate market price per share? 7. You are a shareholder in XYZ Corporation and you currently own 1,000 shares of common stock. a. If XYZ Corporation declares a $.50 per share cash dividend, what is the effect on you? b. If XYZ Corporation declares a 10% stock dividend when the market price of the stock is $35 per share, what is the effect on you? c. If XYZ Corporation declares a 300% stock dividend when the market price of the shares is $240, what is the effect on you? d. If XYZ Corporation declares a 4 for 1 stock split when the market price of the shares is $240, what is the effect on you? 8. What is a prior period adjustment, and how is it reported in the financial statements? 9. Give an example of a change in accounting principle. How are changes in accounting principle reported on the financial statements? How is the dollar amount reported on the financial statements determined? 10. What is the purpose of a retained earnings restriction? Identify the possible causes of retained earnings restrictions. How are retained earnings restrictions generally reported in the financial statements? EXERCISES 1. On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following transactions occurred. Apr 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec 1 Issued 2,000 additional shares of common stock for $19 per share. Dec 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. Instructions (a) Prepare the entries, if any, on each of the three dividend dates, June 15, July 10, and Dec 15 (you do not need to make an entry for April 1 or December 1). (Hint: make sure you ask yourself how many shares are outstanding!) (b) How are the dividends declared and dividends payable reported in the financial statements prepared at December 31? 2. Deweese Corporation currently has 140,000 shares of $10-par value common stock outstanding. On December 10, 2017, the company declared a stock dividend distributable on January 31, 2018, when the market price of the common stock was $60 per share. 1. Give the general journal entries required on December 10, 2017 and January 31, 2018 assuming a 15% stock dividend is declared. After the stock dividend is distributed, what will be the number of shares outstanding, the par value per share and the market value per share? 2. Indicate the financial statement presentation of the stock dividend related accounts on the December 31, 2017 financial statements. 3. Give the general journal entries required on December 10, 2017 and January 31, 2018 assuming a 100% stock dividend is declared. After the stock dividend is distributed, what will be the number of shares outstanding, the par value per share and the market value per share? 4. Assume instead that Deweese Corporation declared a three for one stock split on December 10, 2017. What journal entries are required to record a stock split? After the stock split, what will be the number of shares outstanding, the par value per share and the market value per share? 3. During 2018, Margan Corporation had the following transactions and events. 1. Declared a cash dividend. 2. Issued par value common stock for cash at par value. 3. Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock. 4. Declared a small stock dividend when the market value was higher than par value. 5. Made a prior period adjustment for overstatement of net income. 6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above. 7. Paid the cash dividend in item no. 1 above. 8. Issued par value common stock for cash above par value. 9. Declared a large stock dividend when the market value was higher than par value. 10. Issued the shares of common stock required by the stock dividend declaration in item no. 9 above. Instructions Indicate the effect(s) of each of the foregoing items on the subdivisions of stockholders' equity. Present your answer in tabular form with the following columns. Use (+) for increase, (-) for decrease, and (NE) for no effect. Item no. 1 is given as an example. Paid-in Capital Total Item Capital Stock Additional Retained Earnings Stk. Equity 1 NE NE (Hint: you may want to make the journal entries for each of the transactionsdon't worry about the dollar amount) 4. The stockholders' equity section of Haley Corporation on December 31 includes the following information: Paid-in Capital: Preferred Stock (10,000 shares authorized, 6,000 shares issued and outstanding) $300,000 Common Stock (750,000 shares authorized, 600,000 shares issued) 1,200,000 APIC-Excess of Par Value-Common 800,000 APIC-Excess of Par Value-Preferred 200,000 Total Paid-in Capital $2,500,000 Retained Earnings 1,858,000 Total Paid-in Capital and Retained Earnings $4,358,000 Less: Treasury Stock (10,000 common shares) (64,000) Total Stockholders' Equity $4,294,000 Instructions Determine the following: 1. How many shares of common stock are outstanding? 2. What is the par value per share of the common stock? 3. What is the par value per share of the preferred stock? 4. If the annual preferred dividend totals $30,000, what is the dividend rate? 5. If dividends of $60,000 were in arrears on the preferred stock, what would be the balance of the Retained Earnings account? EXERCISE #1 (a) Date "(b) Account Titles Debit Credit EXERCISE #2 Date Account Titles Debit Credit EXERCISE #3 JOURNAL ENTRIES ARE NOT REQUIRED BUT CAN BE USEFUL IN COMPLETING THE CHART Date Account Titles Debit Credit EXERCISE #3 Item 1 2 3 4 5 6 7 8 9 10 Paid-In Capital Capital Stock Additional Retained Earnings Total Stkhldrs' Equity