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Alexander Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$25 par value, 70,000 shares authorized, 43,000 shares issued and outstanding
Alexander Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$25 par value, 70,000 shares authorized, 43,000 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $1,075, 800 86,000 385,000 $1,546,000 Jan. of record. During the year, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 4,300 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,720 of its treasury shares at $30 cash per share. Aug. 27 Sold 2,150 of its treasury shares at $20 cash per share. Sept. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record Oct. 22 Paid the dividend declared on September 9. Dec. 31 Closed the $65,000 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 year ended December 31, 2019, 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. 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 Journal entry worksheet 0 3 5 6 7 8 Record the payment of the cash dividend declared on January 7. Note: Enter debits before credits. Date General Journal Dobit Credit Feb 28 Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2019. (Amounts to be deducted should be Indicated by a minus sign) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31 Beginning retained eamings "Add: Net income $ Less: Cash dividends declared Zess: Treasury stock reissuances Ending retained earnings $ 0 0 Dr 22 24 11 Next
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