Please answer the following questions below:

1. On May 1, Jack Tupp Auto Repair collected subscriptions of $30,000 for a repair plan for its customers in which it would provide repair services. Jack Tupp Auto Repair would earn these equally each month.

As of December 31, what would be the balance of Unearned Repair Revenue for Jack Tupp Auto Repair?

2. As of December 31, the balance sheet for Tequila Mockingbird Bar & Grill, Inc., includes the following:

6% $100 par cumulative preferred stock, 10,000 shares authorized; 1,000 shares issued

$10 par common stock, 1,000,000 shares authorized; 650,000 shares issued, 640,000 shares outstanding

Additional preferred stock paid-in-capital: $20,000

Additional common stock paid-in-capital: $9,000,000

Treasury stock (10,000 shares): $210,000

Tequila Mockingbird Bar & Grill, Inc., declared and paid a $32,000 cash dividend on December 15. If the companys dividends in arrears prior to that date were $9,000, its common stockholders received

3. In a stock split:

(Choose all of the correct answers.)

The number of outstanding shares of stock changes

A credit is not made to Retained Earnings

Retained Earnings does not change

Assets will decrease

The par value of the stock remains unchanged

4.

Which of the following will ultimately result in a decrease to total retained earnings?

(Choose all of the correct answers.)

Declaration of a stock dividend

Declaration of a cash dividend

Issuance of common stock

The payment of an expense

The accrual of a liability