please answer both questions . Thanks :)

2. Hex Corporation showed the following amounts in the equity section of its balance sheet at January 1, 2021: Preferred Shares, $2 cumulative (in arrears for 2020). 10,000 shares issued $500,000 Common shares 40.000 shares issued $800,000 Retained Earnings $500,000 In 2021: On Jan 20, 2021, 10,000 common shares were issued for $150,000. On Nov. 1. 2021, Cash dividends of $90,000 were declared Dividends will be paid on January 18, 2022. On Dec. 31, 2021 Hex reported revenues of $150,000 and expenses of $80,000 for the year. Prepare journal entries for 2021 Use an Income Summary account and Cash Dividends account as required 10 1. A B and Chave been partners of a mountain bike shop in Whistler, BC called Storm. They share profit and losses in the ratio of 6:2:2 as per their agreement. On March 31,2021 C retires from the partnership, the equities of partner are A $317,000; B $212,000 and C, $92,000. Record journal entries to record c's retirement under each of the following unrelated assumptions: a C is paid $92,000 in partnership cash for his equity. 5 I S b. C is paid $124,000 in partnership cash for his equity b. C is paid $124,000 in partnership cash for his equity. c. C is paid $76,000 in partnership cash for his equity