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Alexander Corporation reports the following components of stockholders equity on December 31, 2016: Common stock$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding
Alexander Corporation reports the following components of stockholders equity on December 31, 2016:
Common stock$25 par value, 60,000 shares authorized, 37,000 shares issued and outstanding | $ | 925,000 | |
Paid-in capital in excess of par value, common stock | 74,000 | ||
Retained earnings | 364,000 | ||
Total stockholders equity | $ | 1,363,000 | |
In year 2017, the following transactions affected its stockholders equity accounts.
Jan. | 2 | Purchased 3,700 shares of its own stock at $25 cash per share. | ||
Jan. | 7 | Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. | ||
Feb. | 28 | Paid the dividend declared on January 7. | ||
July | 9 | Sold 1,480 of its treasury shares at $30 cash per share. | ||
Aug. | 27 | Sold 1,850 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 $59,000 credit balance (from net income) in the Income Summary account to Retained Earnings. |
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