Comson stock-\$15 par value, 100, vee shares authorized, 50,600 shares issued and outstanding Paid-in capital in excess of par value, comion stock Retained earnings Total steckhotders' equity During the current yeat, the following transaciges affected its stockholden' equity accounts Jamuary 2 Purctised 4, eve shares of its own stock at 520 cash per share. January 5 , Directors declared a 52 per share cash dividend payable on February 28 to the February 5 istockholders of record. tebruary 28 paid the dividend dectared on jandary 5. 3uly 6 Seld 2,00 of its treasury shares at $24 cash per share. August 22 Sold 2 , 000 of its treasury shares at 516 cash per share. Septebber 5 Directors declared a 17 per share cash dividend payable on october. 26 to the septender 25 stockholders of record. october 28 pald the dividend declared en septesber 5 . Decenber 31 Closed the 1498, pes credit balance (fron net incose) in the Incone Surnary account to Retained Earnings, Journal entry worksheet 2 3 4 5 6 7 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits. Prepare a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|l|} \hline KOHLER CORPORATION \\ \hline Stockholders' Equity Section of the Balance Sheot \\ \hline December 31 \\ \hline Total contributed copital \\ \hline Total stockholders' equity \\ \hline \end{tabular} Required 2 Conmon stock-\$15 par value, 1ee, eee shares authorized, 59, eev shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity During the cuntent year, the following transwctipns affected is stocknolders' equiy accounts. January 2 Purchased 4, 0ee shares of its own stock at $20 cash per share. January 5 , Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. february 28 , Paid the dividend declared on January 5. juty 6 Sold 2 , eee of its treasury shares at $24 cash per share. August 22 Sold 2 , eee of its treasury shares at 516 cash per share. Septesber 5 0irectors declared a $2 per share cash dividend payable on october 28 to the september 75 stockholders of record. 0ctober 28 . Paid the dividend declared on Septenber 5 . Decesber il closed the s4es, eee credit balahe (fron net incoee) in the Incone summary account to hetained Earnings. Required: 1. Frepare journal entries to secord each of these tramsactions. 2. Prepare a statement of retained eamings for the current year ended December 31 3. Prepare the stipciholders' equily secten of the belance sheet as of December 31 of the current year Journal entry worksheet 2 3 4 6 b. 7 B Record the purchase of 4,000 shares of its owrfcommon stock for $20 cash per share. Note: Enter debits before credits: Prepare a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year: Hiliside issues $1,500,000 of 6%,15-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and Decernber 31 . The bonds ate issued at a price of $1,296,168 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. z(a) For eoch semiannual period, complete the table below to calculate the cash payment. zib) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2 a For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest exponse to bo recognized over the bonds' life. 4. Prepare the firt two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest pdyments. Prepare the jourial entries to record the frit two interest payments Note: Round your intermediate and final answers to the nearest whole dotisr. Journal entry worksheet 2 Nute: Enter debits te foce credits. Prepare the first two years of a straight-line armortization table. Noter. Round your Intermediate and final enswers to the nearest whole dollaf. Total bond Internst expentig ever tife of bonds: Amount repaid: \begin{tabular}{|l|l|} \hline & poyments of \\ \hline Par value at inaturity \\ Total repaid \\ Less amount bortowed \\ \hline Total bond interest expense \\ \hline \end{tabular} Comson stock-\$15 par value, 100, vee shares authorized, 50,600 shares issued and outstanding Paid-in capital in excess of par value, comion stock Retained earnings Total steckhotders' equity During the current yeat, the following transaciges affected its stockholden' equity accounts Jamuary 2 Purctised 4, eve shares of its own stock at 520 cash per share. January 5 , Directors declared a 52 per share cash dividend payable on February 28 to the February 5 istockholders of record. tebruary 28 paid the dividend dectared on jandary 5. 3uly 6 Seld 2,00 of its treasury shares at $24 cash per share. August 22 Sold 2 , 000 of its treasury shares at 516 cash per share. Septebber 5 Directors declared a 17 per share cash dividend payable on october. 26 to the septender 25 stockholders of record. october 28 pald the dividend declared en septesber 5 . Decenber 31 Closed the 1498, pes credit balance (fron net incose) in the Incone Surnary account to Retained Earnings, Journal entry worksheet 2 3 4 5 6 7 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits. Prepare a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|l|} \hline KOHLER CORPORATION \\ \hline Stockholders' Equity Section of the Balance Sheot \\ \hline December 31 \\ \hline Total contributed copital \\ \hline Total stockholders' equity \\ \hline \end{tabular} Required 2 Conmon stock-\$15 par value, 1ee, eee shares authorized, 59, eev shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity During the cuntent year, the following transwctipns affected is stocknolders' equiy accounts. January 2 Purchased 4, 0ee shares of its own stock at $20 cash per share. January 5 , Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. february 28 , Paid the dividend declared on January 5. juty 6 Sold 2 , eee of its treasury shares at $24 cash per share. August 22 Sold 2 , eee of its treasury shares at 516 cash per share. Septesber 5 0irectors declared a $2 per share cash dividend payable on october 28 to the september 75 stockholders of record. 0ctober 28 . Paid the dividend declared on Septenber 5 . Decesber il closed the s4es, eee credit balahe (fron net incoee) in the Incone summary account to hetained Earnings. Required: 1. Frepare journal entries to secord each of these tramsactions. 2. Prepare a statement of retained eamings for the current year ended December 31 3. Prepare the stipciholders' equily secten of the belance sheet as of December 31 of the current year Journal entry worksheet 2 3 4 6 b. 7 B Record the purchase of 4,000 shares of its owrfcommon stock for $20 cash per share. Note: Enter debits before credits: Prepare a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year: Hiliside issues $1,500,000 of 6%,15-year bonds dated January 1,2021 , that pay interest semiannually on June 30 and Decernber 31 . The bonds ate issued at a price of $1,296,168 Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. z(a) For eoch semiannual period, complete the table below to calculate the cash payment. zib) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2 a For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest exponse to bo recognized over the bonds' life. 4. Prepare the firt two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest pdyments. Prepare the jourial entries to record the frit two interest payments Note: Round your intermediate and final answers to the nearest whole dotisr. Journal entry worksheet 2 Nute: Enter debits te foce credits. Prepare the first two years of a straight-line armortization table. Noter. Round your Intermediate and final enswers to the nearest whole dollaf. Total bond Internst expentig ever tife of bonds: Amount repaid: \begin{tabular}{|l|l|} \hline & poyments of \\ \hline Par value at inaturity \\ Total repaid \\ Less amount bortowed \\ \hline Total bond interest expense \\ \hline \end{tabular}