Check my work Fairhaven Company reports the following components of stockholders' equity on December 31, 2016 Common stock-$10 par value, 130,000 hares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 s 985,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5, 000 shares of its own stock at s23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February za co the rebeaS -esemnaea4 record Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share Sept. 5 Directors declared a $2 per share cash dividend payable on October 28to the September as stoccol inn- record Oct.. 28 Paid the dividend declared on September s. Dec. 31 Closed the $375,500 czedit balance (from net income) in the Income Surmary account to Retained Earmings. Statement of Stockholders Impact on GeneralTrial Balance RE Equity Equity Journal In year 2017, the following transactions affected its stockholders equity accounts. Prepare the necessary journal enties Pre 1 of 1 Next 90 8 40 Fairhaven Company reports the following components of stockholders equity on December 31,2016. Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity s s00,000 75,000 410,000 985,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $23 cash per share. Jan s Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders ot record Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1, 900 of its treasury shares at $27 cash per share Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per he September 25 stockholdezs of share cash dividend payable on October 28 to t record. Oct. 28 Paid the dividend declared on September s. Dec. 31 Closed the $375, 500 credit balance (from net income) in the Income Surmary account to Retained aznings. Statement of Stockholders Impact on General Trial BalanceRE Ledger General Equity Equity Requirementual Prey 1of 1 Next search