50 2 points ellook. Print References Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $25 cash per share. $900,000 70,000 460,000 $ 1,430,000 January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of February 28 July 6 August 22 September 5 October 28 record. Paid the dividend declared on January 5. Sold 2,500 of its treasury shares at $29 cash per share.. Sold 2,500 of its treasury shares at $21 cash per share. Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. Paid the dividend declared on September 5.1 December 31 Closed the $488,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list View journal entry worksheet 2 Prepare journal entries to record each of these transactions. No 1 50 Date January 02 General Journal Treasury stock, Common points Cash 00 completed so far. It does not indi Debit Credit 125,000 125,000 2 January 05 Retained earnings 225,000 Common dividend payable 225,000 3 February 28 Common dividend payable 80,000 Cash 80,000 4 July 061 Cash Treasury stock, Common Paid-In capital, Treasury stock 5 August 22 Cash Paid-In capital, Treasury stocki C. Required 1 Required 2 > 100 00 54,375 246,875 7,500 52,500 View transaction list Journal entry worksheet < 2 3 4 5 6 7 8 Record the purchase of 5,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit 125,000 125,000 January 02 Treasury stock, Common Cash Record entry Clear entry View general journal Required 1 Required 2 > ts eBook Print ferences Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet > 2 5 6 7 8 Record the declaration of a cash dividend of $4 per share. Note: Enter debits before credits. Date General Journal Debit Credit January 05 Retained earnings 225,000 Common dividend payable 225,000 Record entry Clear entry View general journal Required 1 Required 2 > View transaction list Journal entry worksheet < Book Print erences 3 Record the payment of the cash dividend. Note: Enter debits before credits. Date actions. 5 6 7 8 > General Journal Debit Credit 80,000 80,000 February 28 Common dividend payable Cash Record entry Clear entry View general journal Required 1 Required 2 > 50 points Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet < eBook. 5 6 7 8 Record the reissue of 2,500 shares of the treasury stock for $29 cash per share. Print References Note: Enter debits before credits. Date July 06 Cash Treasury stock, Common General Journal Debit Credit 54,375 Paid-In capital, Treasury stock 246,875 7,500 Record entry Clear entry View general journal 50 points View transaction list Journal entry worksheet < 1 2 3 eBook Print References Mc 5 6 7 8 Record the reissue of 2,500 shares of the treasury stock for $21 cash per share. Note: Enter debits before credits. Date August 22 General Journal Debit Credit Cash 52,500 Paid-In capital, Treasury stock Record entry Clear entry View general journal 50 points Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet < 1 2 3 eBook 7 8 Print Record the declaration of a cash dividend of $4 per share. D References IMc Note: Enter debits before credits. Date September 05 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 > S View transaction list Journal entry worksheet > 2 3 5 6 7 Record the entry to close the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 > 2 50 points eBook Print 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Current Year Ended December 31 References Add: Net income $ 50 points 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Required 3 Print Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet References December 31 Common stock - $15 par value $ 900,000 Paid-in capital in excess of par value, common stock 70,000 Total contributed capital 970,000 Retained earnings 408,000 Total stockholders' equity $ 1,378,000 < Required 2 Required E ok Int ences Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $25 cash per share. January 5 February 28 July 6 August 22 September 5 October 28 December 31 Required: $ 900,000 70,000 460,000 $ 1,430,000 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. Paid the dividend declared on January 5. Sold 2,500 of its treasury shares at $29 cash per share. Sold 2,500 of its treasury shares at $21 cash per share. Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. Paid the dividend declared on September 5. Closed the $408,000 credit balance (from net income) in the Income Sunnary account to Retained Earnings. 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet Help