Connect Homework: Chapter 11i 5 2 Purchased 5,000 shares of its own stock at $25 cash per share 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Jan Jan 28 Paid the dividend declared on January 5. 6 Sold 1,875 of its treasury shares at $29 cash per share 22 Sold 3,125 of its treasury shares at $22 cash per share 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Feb. 15 July Aug. Sept. points Skipped 28 Paid the dividend declared on September 5 31 closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings Oct Dec. eBook 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. Print References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions View transaction list Journal entry worksheet 2 3 5 6 7 8 1 Record the purchase of 5,000 shares of its own common stock for $25 cash per share. Note: Enter debits before credits Date General Journal Debit Credit Jan 02 View general journal Record entry Clear entry LO Connect Homework: Chapter 11i 5 2 Purchased 5,000 shares of its own stock at $25 cash per share 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record 28 Paid the dividend declared on January 5 6 Sold 1,875 of its treasury shares at $29 cash per share 22 Sold 3,125 of its treasury shares at $22 cash per share 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 Jan Jan Feb 15 July Aug. points Sept. Skipped stockholders of record. 28 Paid the dividend declared on September 5. 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings Oct Dec eBook 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. Print References Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Prepare journal entries to record each of these transactions View transaction list X Record the declaration of a cash dividend of $2 per share. 2 Record the payment of the cash dividend. cash Record the reissue of 1,875 shares of the treasury stock for $29 cash per share. 4 Record the reissue of 3,125 shares of the treasury stock for $22 cash per share. 5 Credit Record the declaration of a cash dividend of $2 per share. 6 Record the payment of the cash dividend 7 Record the entry to close the $408,000 credit balance 8 Note =journal entry has been entered Clear entry Record entry View general journal LO Connect Homework: Chapter 11 i Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 370,000 15 points $1,340,000 Skipped During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $25 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 Jan eBook Jan stockholders of record. 28 Paid the dividend declared on January 5 6 Sold 1,875 of its treasury shares at $29 cash per share 22 Sold 3,125 of its treasury shares at $22 cash per share Feb. Print July Aug. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. References 28 Paid the dividend declared on September 5 Oct. Dec. 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retai 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. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2019. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2019 0 $ Roauirod 2. Poauirod d LO Connect Homework: Chapter 11i Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 15 points 900,000 70,000 370,000 Skipped Total stockholders' equity $1,340,000 ok During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $25 cash per share 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. Jan Print Jan Feb 6 Sold 1,875 of its treasury shares at $29 cash per share. 22 Sold 3,125 of its treasury shares at $22 cash per share. July Aug Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 References of record stockhold 28 Paid the dividend declared on September 5 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Oct Dec 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Total contributed capital 0 Total stockholders' equity $ Required 2 Required 3 LO