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can you show me how to do this so i will know how to do this in the future Corporation reports the howing components of
can you show me how to do this so i will know how to do this in the future
Corporation reports the howing components of stockholders' equity at December 31, 2018. Common stock-$10 par value, 100,000 shares authorized. 40,000 shares Issued and outstanding Paid-in capital in excess of par value.common stock Retained earnings. Total stockholders' equity $400.000 60,000 270.000 $730.000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5. Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1.500 of its treasury shares at $24 cash per share. Aug. 22 Sold 2.500 of its treasury shares at $17 cash per share. Sep. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record, Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $388,000 credit balance (from net income) in the Income Summary account to Re- tained 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
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