please answer all 3 questions. Per chegg policy its 4 questions per post. if you cant answer all 4 please dont answer and allow someone who can. thank you.

Question 1 (30 points) The adjusted trial balance dated December 31" 2013 of Greco Company is provided below. Greco's accounting period is the calendar year. All figures are in dollars. All accounts have their normal balances. Account Cash Accounts Receivable Miscellaneous Expenses Accounts Payable Unearned Revenue Property, Plant and Equipment Accumulated Depreciation Retained Earnings Balance 24,000 35,000 10,000 12,000 8,000 50,000 15,000 40,000 Account COGS Expense Wages Expenses Contributed Capital Depreciation Expense Sales Revenue Interest Expense Merchandize Inventory Balance 25,000 9,000 75,000 6,000 45,000 12,000 24,000 In the space provided below prepare Greco's Balance sheet dated Dec 31* 2013. You are not required to show closing entries or an income statement. Greco's Balance Sheet Dated Dec 31" 2013 2 Question 2 (35 points) Selected financial statement information for Johnston Enterprises is presented below. Balance Sheet Data December 31, December 31, 2013 2014 Cash $104,000 $100,000 Accounts Receivable 306,000 228,000 Prepaid Rent 15,000 43,000 Inventory 340,000 391,000 Property, Plant, and Equipment 1,122,000 1,261,000 Less: Accumulated Depreciation (442,000) (476,000) Total Assets $1,445,000 $1,547,000 Unearned Revenue 77,000 85,000 Accounts Payable (merchandise suppliers) $102,000 $187,000 Rent Payable 68,000 51,000 Bank Loan 391,000 350,000 Common Stock Retained Earnings Total Liabilities & Stockholders' Equity 467,000 340,000 $1,445,000 510,000 364,000 $1.547.000 Income Statement Data for Calendar Year 2014 1,615,000 (781,000) 834,000 Sales Revenue Cost of Goods Sold Gross Profit Expenses: Depreciation Expense Salaries Expense Interest Expense Rent Expense Loss on Sale of Equipment Net Income (153,000) (391,000) (34,000) (98,000) (12.000) $146,000 Based on the information provided above, provide your answers to the questions below in the space provided. For partial credit, please show intermediate steps. a) What was the amount of dividends declared and paid by Johnston during 2014? (5 points) 3 b) What was the amount of cash collected from customers by Johnston during 2014? (10 points) c) What was the amount of rent paid by Johnston during 2014? (10 points) (d) What was the amount of cash paid to suppliers of merchandise by Johnson during 2014? (10 points) Question 3 (35 points: 7 points each for (a) through (e) below) (a) on August 1* 2015 ABC Co. pays $18,000 to XYZ Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31*. In the space below, prepare the journal entries that ABC Co. must record in 2015. Account Titles Debit Amount Credit Amount Date (b) Use the information in the question above and prepare the journal entries that XYZ Insurance Co. must record in 2015. Date Account Titles Debit Amount Credit Amount (c) In November and December 2014, Lane Co., a newly organized magazine publisher, received cash of $60,000 for 1,000 three-year subscriptions at $20 per year, starting with the January 2015 issue. What amount should Lane report in its calendar year 2014 income statement for subscriptions revenue? 5