Check my wo Exercise 11-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity on December 31, 2016 points Common stock-$25 par value, 60,000 shares authorized, 36,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 22. 361,000 $1.333.000 eBook In year 2017, the following transactions affected its stockholders' equity accounts Jan. 2 Purchased 3,000 shares of its own stock at 525 cash por share. Jan 7 olrectors declared $1.50 per share cash dividend payable on February 20 to the rebruary 9 stockholders of record. Feb. 28 Pold the dividend declared on January 7. July Sold 1, 40 of its treasury shares at 530 cash per share Aug 27 sold 3,000 of its treasury shares at 320 cash per share.. Sept. Directors declared 52 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 558,000 credit balance (front income in the Income Summary account to Retained Earnings References Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31 2017 00 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 !" View transaction at View journal entry worksheet No General Journal Treasury stock common Credit Jan 02 90.000 Jan 07 Retained earings Common dividend payable 4R 600 ooie Feb 28 Common dividend pure Jul 09 Cash Padin capital asury stock Treasury stock common Aug 27 Cash Retained earnings Padi cacitat treasury to Sep 09 Rewned earnings Common dividend payable Oct 22 Common dividend payable Dec 31 income summary Required 2 > 00 Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 3,680 shares of its own stock at $25 cash per share. 7 Directors declared a $1.5e per share cash dividend payable on February 28 to the February 9 stockholders of 28 Paid the dividend declared on January 7. 9 Sold 1,440 of its treasury shares at $30 cash per share. 27 Sold 1,880 of its treasury shares at $29 cash per share. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of re 22 Paid the dividend declared on September 9. 31 Closed the $58,000 credit balance (from net income) in the Income Summary account to Retained Earnings. 15 Doints eBook 10. Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 o Beforences Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 SA S0 00 In year 2017, the following transactions affected its stockholders' equity accounts. 1.5 points Jan. 2 Purchased 3,600 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 reco Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,440 of its treasury shares at 5.30 cash per share. Aug 27 Sold 1,800 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 $58,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Book fone Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total stockholders' equity Required 2
