I was able to answer most of the questions but after that I'm lost. If someone could help walk me through these it would be greatly appreciated. My prof gave the class the first part of the last question but I'm lost on how to do the rest of it. Any help is appreciated. **I don't have enough credits to increase my amount. I'm sorry.**

Question 1 Greenwood Corporation has 79,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Question 2 M. Bot Corporation has 11,000 shares of 8%, $100 par value, cumulative preferred stock outstanding at December 31, 2017. No dividends were declared in 2015 or 2016. If M. Bot wants to pay $410,000 of dividends in 2017, what amount of dividends will common stockholders receive? $ Amount of dividend Question 3 Whetzel Corporation reported net income of $160,000, declared dividends on common stock of $48,000, and had an ending balance in retained earnings of $360,000. Common stockholders' equity was $650,000 at the beginning of the year and $820,000 at the end of the year. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.) Return on common stockholders' equity Question 4 % On January 1, Guillen Corporation had 95,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred. Apr. June July Dec. 1 1 5 1 0 1 1 5 Issued 26,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,500 additional shares of common stock for $20 per share. Declared a cash dividend on outstanding shares of $2.10 per share to stockholders of record on December 31. (a) Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Question 5 On October 31, the stockholders' equity section of Heins Company consists of common stock $260,000 and retained earnings $882,000. Heins is considering the following two courses of action: (1) declaring a 4% stock dividend on the 26,000, $10 par value shares outstanding, or (2) effecting a 2-for1 stock split that will reduce par value to $5 per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. After Stock Dividend Before Action After Stock Split Stockholders' equity Paid-in capital $ $ $ $ $ $ $ $ $ Common stock In excess of par Total paid-in capital Retained earnings Total stockholders' equity Outstanding shares Par value per share Question 6 On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 66,000 shares issued and outstanding) Paid-in Capital in Excess of ParCommon Stock Retained Earnings $1,320,000 205,000 603,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2018. Determined that net income for the year was $340,000. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Common Stock Date Explanatio n Re f Debit Credit Balance Balance Adjusting Common Stock Dividends Distributable Date Explanatio n Re f Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Paid-in Capital in Excess of ParCommon Stock Date Explanatio n Balance Re f Retained Earnings Date Explanatio n Balance Re f Net income Stock dividend Cash dividend Cash Dividends Date Explanatio n Re f Stock Dividends Date Explanatio n Re f Debit Credit Balance Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) GEFFREY CORPORATION Balance Sheet (Partial) $ $ Question 7 The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par Common Stock, $3 par Paid-in Capital in Excess of ParPreferred Stock Paid-in Capital in Excess of ParCommon Stock Retained Earnings $590,000 471,000 185,000 296,000 761,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Aug. 1 Sept. 1 Dec. 1 Declared a $0.90 cash dividend per share on common stock. Discovered $28,000 understatement of depreciation expense in 2016. (Ignore income taxes.) Paid the cash dividend declared on July 1. Declared a 15% stock dividend on common stock when the market price of the stock was $20 per share. 15 Declared a 6% cash dividend on preferred stock payable January 15, 2018. 31 Determined that net income for the year was $362,000. 31 Recognized a $219,000 restriction of retained earnings for plant expansion. Journalize the transactions, events, and closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To close net income) (To close cash dividends) (To close stock dividends) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Balance Re f Debit Credit Balance Debit Credit Balance Common Stock Date Explanation Balance Re f Common Stock Dividends Distributable Date Explanation Re f Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Paid-in Capital in Excess of ParPreferred Stock Date Explanation Balance Re f Paid-in Capital in Excess of ParCommon Stock Date Explanation Balance Re f Retained Earnings Date Explanation Balance Re f Prior period adjustment depreciation expense understated Net income Cash dividends Stock dividends Cash Dividends Date Explanation Re f Stock Dividends Date Explanation Re f Debit Credit Balance Prepare a retained earnings statement for the year. (List items that increase retained earnings first.) KARP COMPANY Retained Earnings Statement $ ( ) : : $ $ Prepare a stockholders' equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.) KARP COMPANY Balance Sheet (Partial) $ $ Question 8 The post-closing trial balance of Storey Corporation at December 31, 2017, contains the following stockholders' equity accounts. Preferred Stock (14,600 shares issued) Common Stock (243,000 shares issued) Paid-in Capital in Excess of ParPreferred Stock Paid-in Capital in Excess of ParCommon Stock Common Stock Dividends Distributable Retained Earnings $730,000 2,430,000 243,000 418,000 243,000 985,220 A review of the accounting records reveals the following. 1. No errors have been made in recording 2017 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative; 14,600 shares have been outstanding since January 1, 2016. 3. Authorized stock is 19,600 shares of preferred, 486,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,130,000. 5. On July 1, 20,200 shares of common stock were issued for cash at $16 per share. 6. On September 1, the company discovered an understatement error of $91,400 in computing salaries and wages expense in 2016. The net of tax effect of $63,980 was properly debited directly to Retained Earnings. 7. A cash dividend of $243,000 was declared and properly allocated to preferred and common stock on October 1. No dividends were paid to preferred stockholders in 2016. 8. On December 31, a 10% common stock dividend was declared out of retained earnings on common stock when the market price per share was $16. 9. Net income for the year was $551,000. 10. On December 31, 2017, the directors authorized disclosure of a $201,000 restriction of retained earnings for plant expansion. (Use Note X.) Reproduce the Retained Earnings account for 2017. (List items in order presented in the problem.) Retained Earnings Prepare a retained earnings statement for 2017. (List items that increase retained earnings first.) STOREY CORPORATION Retained Earnings Statement $ : : $ $ Prepare a stockholders' equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.) STOREY CORPORATION. Partial Balance Sheet $ $ $ Compute the allocation of the cash dividend to preferred and common stock. $ Allocation of the cash dividend to preferred stock $ Allocation of the cash dividend to common stock Question 9 On January 1, 2017, Ven Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,200 shares issued and outstanding) Retained Earnings $1,365,000 530,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $37. Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2018. Determined that net income for the year was $310,000. (Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.) (a) Prepare the stockholders' equity section of the balance sheet at March 31. VEN CORPORATION Partial Balance Sheet March 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ Common Stock 1,410,000 Retained Earning 379,550 $ Total Stockholders' Equity 1,789,550 (b) Prepare the stockholders' equity section of the balance sheet at June 30. VEN CORPORATION Partial Balance Sheet J une 30, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $ (c) Prepare the stockholders' equity section of the balance sheet at September 30. VEN CORPORATION Partial Balance Sheet September 30, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $ (d) Prepare the stockholders' equity section of the balance sheet at December 31, 2017. VEN CORPORATION Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $ Question 1: Greenwood Journal Entries Date Account Titles and Explanation Nov 1 Dividends Dividends payable To record cash dividends declared Dividends payable Cash To record cash dividends paid Dec 31 Debit ($) Credit ($) 79,000 79,000 79,000 79,000 Question 2: M. Bot Corporation Amount of dividend $ 300,200 Question 3: Whetzel Corporation Return on common stockholders' equity = (net income - dividends)/ average common stockholders' equity = (160,000-48,000)/ (650,000+820,000)/2 = 112,000/735,000 Return on common stockholders' equity 15.2% Question 4: Guillen Corporation Date Apr 1 Jun 15 July 10 Account Titles and Explanation Cash Common stock ($7 stated value) Additional paid-in capital Sale of shares at premium Dividends Dividends payable To record cash dividends declared Dividends payable Debit ($) Credit ($) 442,000 182,000 260,000 95,000 95,000 95,000 Dec 1 Dec 15 Cash To record cash dividends paid Cash Common stock ($7 stated value) Additional paid-in capital Sale of shares at premium Dividends (28,500 shares Dividends payable 95,000 50,000 17,500 32,500 59,850 59850 Question 5 On October 31, the stockholders' equity section of Heins Company consists of common stock $260,000 and retained earnings $882,000. Heins is considering the following two courses of action: (1) declaring a 4% stock dividend on the 26,000, $10 par value shares outstanding, or (2) effecting a 2-for-1 stock split that will reduce par value to $5 per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share. After Stock Dividend Before Action After Stock Split Stockholders' equity Paid-in capital $ $ $ $ $ $ Common stock In excess of par Total paid-in capital Retained earnings Total stockholders' equity Outstanding shares $ $ $ Par value per share Question 6 On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 66,000 shares issued and outstanding) Paid-in Capital in Excess of ParCommon Stock Retained Earnings $1,320,000 205,000 603,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2018. 31 Determined that net income for the year was $340,000. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Common Stock Date Explanation Balance Ref Debit Credit Balance Credit Balance Debit Credit Balance Debit Credit Balance Adjusting Common Stock Dividends Distributable Date Explanation Ref Debit Paid-in Capital in Excess of ParCommon Stock Date Explanation Balance Ref Retained Earnings Date Explanation Balance Ref Net income Stock dividend Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Ref Debit Credit Balance Stock Dividends Date Explanation Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) GEFFREY CORPORATION Balance Sheet (Partial) $ $ Question 7 The stockholders' equity accounts of Karp Company at January 1, 2017, are as follows. Preferred Stock, 6%, $50 par Common Stock, $3 par Paid-in Capital in Excess of ParPreferred Stock Paid-in Capital in Excess of ParCommon Stock Retained Earnings $590,000 471,000 185,000 296,000 761,000 There were no dividends in arrears on preferred stock. During 2017, the company had the following transactions and events. July 1 Aug. 1 Sept. 1 Dec. 1 15 31 31 Declared a $0.90 cash dividend per share on common stock. Discovered $28,000 understatement of depreciation expense in 2016. (Ignore income taxes.) Paid the cash dividend declared on July 1. Declared a 15% stock dividend on common stock when the market price of the stock was $20 per share. Declared a 6% cash dividend on preferred stock payable January 15, 2018. Determined that net income for the year was $362,000. Recognized a $219,000 restriction of retained earnings for plant expansion. Journalize the transactions, events, and closing entries for net income and dividends. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To close net income) Debit Credit (To close cash dividends) (To close stock dividends) Enter the beginning balances in the accounts, and post to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Balance Re f Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Common Stock Date Explanation Balance Re f Common Stock Dividends Distributable Date Explanation Re f Paid-in Capital in Excess of ParPreferred Stock Date Explanation Balance Re f Paid-in Capital in Excess of ParCommon Stock Date Explanation Re f Balance Retained Earnings Date Explanation Balance Re f Debit Credit Balance Re f Debit Credit Balance Re f Debit Credit Balance Prior period adjustment depreciation expense understated Net income Cash dividends Stock dividends Cash Dividends Date Explanation Stock Dividends Date Explanation Prepare a retained earnings statement for the year. (List items that increase retained earnings first.) KARP COMPANY Retained Earnings Statement $ ( ) : : $ $ Prepare a stockholders' equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.) KARP COMPANY Balance Sheet (Partial) $ $ Question 8 The post-closing trial balance of Storey Corporation at December 31, 2017, contains the following stockholders' equity accounts. Preferred Stock (14,600 shares issued) Common Stock (243,000 shares issued) Paid-in Capital in Excess of ParPreferred Stock Paid-in Capital in Excess of ParCommon Stock Common Stock Dividends Distributable Retained Earnings $730,000 2,430,000 243,000 418,000 243,000 985,220 A review of the accounting records reveals the following. 1. No errors have been made in recording 2017 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative; 14,600 shares have been outstanding since January 1, 2016. 3. Authorized stock is 19,600 shares of preferred, 486,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,130,000. 5. On July 1, 20,200 shares of common stock were issued for cash at $16 per share. 6. On September 1, the company discovered an understatement error of $91,400 in computing salaries and wages expense in 2016. The net of tax effect of $63,980 was properly debited directly to Retained Earnings. 7. A cash dividend of $243,000 was declared and properly allocated to preferred and common stock on October 1. No dividends were paid to preferred stockholders in 2016. 8. On December 31, a 10% common stock dividend was declared out of retained earnings on common stock when the market price per share was $16. 9. Net income for the year was $551,000. 10 On December 31, 2017, the directors authorized disclosure of a $201,000 restriction of . retained earnings for plant expansion. (Use Note X.) Reproduce the Retained Earnings account for 2017. (List items in order presented in the problem.) Retained Earnings Prepare a retained earnings statement for 2017. (List items that increase retained earnings first.) STOREY CORPORATION Retained Earnings Statement $ : : $ $ Prepare a stockholders' equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.) STOREY CORPORATION. Partial Balance Sheet $ $ $ Compute the allocation of the cash dividend to preferred and common stock. $ Allocation of the cash dividend to preferred stock $ Allocation of the cash dividend to common stock Question 9 On January 1, 2017, Ven Corporation had the following stockholders' equity accounts. Common Stock (no par value, 94,200 shares issued and outstanding) Retained Earnings $1,365,000 530,000 During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. Paid the dividend declared in February. 1 Apr. 1 Announced a 3-for-1 stock split. Prior to the split, the market price per share was $37. July 1 Declared a 6% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share. 31 Issued the shares for the stock dividend. Dec. Declared a $0.40 per share dividend to stockholders of record on December 15, payable 1 January 5, 2018. 31 Determined that net income for the year was $310,000. (Enter account name only and do not provide descriptive information. Round answers to 0 decimal places, e.g. 5,250.) (a) Prepare the stockholders' equity section of the balance sheet at March 31. VEN CORPORATION Partial Balance Sheet March 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ Common Stock 1,410,000 Retained Earning 379,550 $ Total Stockholders' Equity 1,789,550 (b) Prepare the stockholders' equity section of the balance sheet at June 30. VEN CORPORATION Partial Balance Sheet J une 30, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $ (c) Prepare the stockholders' equity section of the balance sheet at September 30. VEN CORPORATION Partial Balance Sheet September 30, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $ (d) Prepare the stockholders' equity section of the balance sheet at December 31, 2017. VEN CORPORATION Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock $ $