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Dade Company reports the following components of stockholders equity on December 31, 2016: Common stock$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding
Dade Company reports the following components of stockholders equity on December 31, 2016:
Common stock$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding | $ | 600,000 |
Paid-in capital in excess of par value, common stock | 90,000 | |
Retained earnings | 500,000 | |
Total stockholders' equity | $ | 1,190,000 |
In year 2017, the following transactions affected its stockholders equity accounts.
Jan. | 1 | Purchased 6,000 shares of its own stock at $23 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 2,300 of its treasury shares at $27 cash per share. | ||
Aug. | 22 | Sold 3,700 of its treasury shares at $20 cash per share. | ||
Sept. | 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 $233,500 credit balance (from net income) in the Income Summary account to Retained Earnings. |
General Journal General Statement of Stockholders Impact on Equity Trial Balance Requirement Ledger RE Equity Prepare the Statement of Retained Earnings for Dade Corporation for the year ended December 31, 2017. DADE CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 0 Stockholders Equity> Trial Balance General Journal General Statement of Stockholders Impact on Equity Trial Balance Requirement Ledger RE Equity Prepare the stockholders equity section of Dade Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 DADE CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total contributed capital C Total stockholders' equity S Impact on Equity Statement of RE
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