I'm absolutely lost on these. I have tried to get them but I'm down to my last couple of tries and I don't want to take anymore chances. Please help. Thanks

Part 1 Question 1 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 2 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 3 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 cash Apr. 1 442,000 Credit Apr. 1 442,000 common stock 182,000 260,000 J une 15 J uly 10 dividends payable cash Dec. 1 cash 50,000 common stock 17,500 32,500 Dec. 15 cash dividends dividends payable Question 4 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 5 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 Balance Re f Debit Credit Balance Credit Balance Debit Credit Balance Debit Credit Balance Adjusting Common Stock Dividends Distributable Date Explanatio n Re f Debit Paid-in Capital in Excess of ParCommon Stock Date Explanatio n Balance Re f Retained Earnings Date Explanatio n Re f Balance Net income Stock dividend Cash dividend Cash Dividends Date Explanatio n Re f Debit Credit Balance Re f Debit Credit Balance Stock Dividends Date Explanatio n Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) GEFFREY CORPORATION Balance Sheet (Partial) $ $ Question 6 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 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 Balance Re f Retained Earnings Date Explanation Balance Prior period adjustment depreciation expense understated Net income Cash dividends Stock dividends Cash Dividends Re f Date Explanation Re f Debit Credit Balance Re f Debit Credit Balance 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 7 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 8 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 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 $ $ Part 2 Question 1 In its 2013 statement of cash flows, what amount did Apple report for net cash (a) provided by operating activities, (b) used for investing activities, and (c) used for financing activities? $ Net cash provided by operating activities millio n $ millio n Net cash used for investing activities Net cash used for financing activities $ millio n Question 2 The following T-account is a summary of the Cash account of Cuellar Company. Cash (Summary Form) Balance, Jan. 1 Receipts from customers Dividends on stock investments Proceeds from sale of equipment Proceeds from issuance of bonds payable 7,500 364,300 Payments for goods 6,900 Payments for operating expenses 35,200 Interest paid Taxes paid 499,300 Dividends paid Balance, Dec. 31 485,900 206,600 140,800 10,500 8,600 60,800 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash 535443031_0_58 $ provided by financing activities Question 3 The following are the financial statements of Nosker Company. NOSKER COMPANY Comparative Balance Sheets December 31 Assets 2017 Cash $34,600 Accounts receivable 32,450 Inventory 26,400 Equipment 59,000 Accumulated depreciationequipment (29,450) Total $123,000 Liabilities and Stockholders' Equity Accounts payable $28,500 Income taxes payable 7,250 Bonds payable 27,200 Common stock 17,400 Retained earnings 42,650 Total $123,000 2016 $19,900 19,050 20,150 77,500 (23,250) $113,350 $ 16,050 8,300 33,150 14,050 41,800 $113,350 NOSKER COMPANY Income Statement For the Year Ended December 31, 2017 Sales revenue Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income $241,750 176,950 64,800 24,200 40,600 2,250 38,350 8,600 $29,750 Additional data: 1. Dividends declared and paid were $28,900. 2. During the year equipment was sold for $7,950 cash. This equipment cost $18,500 originally and had accumulated depreciation of $10,550 at the time of sale. 3. All depreciation expense, $16,750, is in the operating expenses. 4. All sales and purchases are on account. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) NOSKER COMPANY Statement of Cash Flows EAT_1417088878 For the Year Ended December 31, 2017 26571990_0_322 Cash Flows fromOperating Activities $ 26571990_0_322 Net Income Adjustments to reconcile net income to 26571990_0_322 Net Cash Provided by Operating Activities 26571990_0_322 Depreciation Expense 26571990_0_322 Increase in Accounts Receivable 26571990_0_322 Increase in Accounts Payable $ Increase in Accounts Payable 26571990_0_322 Decrease in Income Taxes Payable 26571990_0_322 Net Cash Provided by Operating Activities 26571990_0_322 Cash Flows fromInvesting Activities 26571990_0_322 Sale of Equipment 26571990_0_322 Cash Flows fromFinancing Activities 26571990_0_322 Issuance of Common Stock 26571990_0_322 Payment of Dividends 26571990_0_322 Redemption of Bonds 26571990_0_322 Net Cash Used by Financing Activities 26571990_0_322 Net Increase in Cash 26571990_0_322 Cash at Beginning of Period $ 26571990_0_322 Cash at End of Period Compute free cash flow. $ Free Cash Flow Question 4 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2017 2016 $157,600 92,400 295,700 $143,500 92,400 247,300 Common stock, 10,500 and 10,000 shares, respectively, for 2017 and 2016 Preferred stock, 5,000 shares Retained earnings A small stock dividend was declared and issued in 2017. The market value of the shares was $11,000. Cash dividends were $16,700 in both 2017 and 2016. The common stock has no par or stated value. What was the amount of net income reported by Kerbs Corp. in 2017? $ Net income Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2017. $ Common stock $ Dividends