TOO 1) Compute the missing information in each of the four independent cases below. The letters in parentheses refer to the following: (18 points) a) A/R Jan 1, Year 2 $500 Sales on accounting for year 2 1900 Collection of cash from customers 1350 A/R Dec 31, Year 2 b) Salaries Payable Jan 1. Year 2 Salary Expense for year 2 Payments to Salaried Employees during year 2 Salaries Payable Dec 31, year 2 175 ? 725 100 1550 400 c) Retained earnings Jan 1. year 2 Net income for year 2 Dividends declared and paid Retained earnings Dec 31s.year 2 ? 1350 , 2) For each transaction, make the appropriate journal entry to record the transaction (18 points) a. The firm collected a not receivable of $8,000 on January 2 b. Paid a note payable of $16.000 on January 2 C. Acquired merchandise inventory costing $30,000 on January 21 with payment of $16,000 in cash and the remainder by Credit d. issued an additional 400 shares of common stock for $125 per share on January 28. The par value of the stock is $100. January 28 e. On January 11, 2009, the firm pays 40,000 cash to rent office space, furnishings, and a warehouse for 12 months starting from February 1", 2009 f. On February 20, the firm receives 22,000 from a customer for future merchandise shipments. 9 March 12, the firm sells merchandise at a selling price of 70,000, the merchandise sold had cost Dugan 40.000. The customer agreed to pay Dugan in the second quarter 5 TO , 3) Indicate the effects of - with the correct amounts of the following transactions on the balance sheet equation filing in the following table (15 points) Asses Liabilities Shareholders' Equity o a e 4) Shareholders of Dragonflies Corporation have received $35,000 in dividends in the current year. At year and the corporation has total assets of $500,000, total liabilities equal to $300,000, and contributed capital totaling $100,000. If retained earnings at the beginning of the year was $80,000, what was Dragonflies' net income for the current year? (10 points) 5) Solve for the unknown dem AB and C) for each of the following independent tuations. I points) CASE CASES A 400 600 Contributed capital 100 150 C Total revenues 400 300 400 Total liabilities 600 B 250 Beginning retained earnings (50) 100 100 Total expenses 250 350 200 Dividends 0 50 0