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can someone please help with this homework problem asap? . Alexander Corporation reports the following components of stockholders' equity at December 31, 2019 Common stock-525
can someone please help with this homework problem asap?
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Alexander Corporation reports the following components of stockholders' equity at December 31, 2019 Common stock-525 par value, 60 ,eee shares authorized, 39 , eee shares issued and outstanding Paid-in capital in excess of par value, cormon stock Retained earnings Total stockholders? equity $975,60078,60e371,60e$1,424,600 During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 3,909 shares of its own stock at 525 cash per share. January 7 Directors declared a $1. Se per share cash dividend payable on February 28 to the february 9 stockholders of recor february 28 Paid the dividend declared on January 7. July 9 sold 1,560 of its treasury shares at $30 cash per share. August 27 sold 1,95e of itsitreasury shares at $20 cash per share. Septenber 9 Directors declared a $2 per share cash dividend payable on october 22 to the septenber 23 stockholders of record. october 22 paid the dividend declared on Septenber 9. December 31 closed the $61,6e0 credit balance (from net incone) 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, 2020. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020 (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the year ended December 31, 2020. Note: Amounts to be deducted should be indicated by a minus sign Step by Step Solution
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