Dates: Jan 01 to: Dec 31 $ 730,000 80,000 72,000 36,000 Impact on equity Total Stockholders' Equity - December 31 Jan. 2) Purchased 4,000 shares of its own Stockholders' equity stock at $20 cash per share. increased Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 No change in total equity stockholders of record. Feb. 28) Paid the dividend declared on January Stockholders' equity 5. decreased Jul. 6) Sold 1,500 of its treasury shares at $24 Stockholders' equity cash per share. decreased Aug. 22) Sold 2,500 of its treasury shares at Stockholders' equity $17 cash per share. decreased Sep. 5) Directors declared a $2 per share cash dividend payable on October 28 to the No change in total equity September 25 stockholders of record. Oct. 28) Paid the dividend declared on September 5. No change in total equity Dec. 31) Closed the $388,000 credit balance Stockholders' equity (from net income) in the Income Summary increased account to Retained Earnings. Total Stockholders' Equity - as calculated on December 31 Total Stockholder's Equity as reported on Stockholder's Equity tab 42,500 80,000 388,000 $ 1,428,500 $ 952,000 Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity Prepare the stockholders' equity section of Kohler Corporation's balance sheet as of December 31, 2020. Dates: Jan 01 to Dec 31 KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2020 Common stock - $10 par value IS 400,000 Retained earnings 506,000 X Total contributed capital 906,000 Paid-in capital in excess of par value, common stock x 46,000 X Total stockholders' equity $ 952,000 Statement of RE Impact on Equity > Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity During the year, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. No Account Title Credit Date Jan 02 Debit 80,000 1 Treasury stock, Common Cash 80,000 2 Jan 05 72,000 Retained earnings Common dividend payable 72,000 3 Feb 28 72,000 Common dividend payable Cash 72,000 4 Jul 06 36,000 Cash Treasury stock, Common Paid-in capital, Treasury stock OS 30,000 6,000 5 Aug 22 Cash Paid-in capital, Treasury stock Retained earnings 42,500 17,500 60,000 6 Sep 05 80,000 Retained earnings Common dividend payable 80,000 Dates: Jan 01 to: Dec 31 $ 730,000 80,000 72,000 36,000 Impact on equity Total Stockholders' Equity - December 31 Jan. 2) Purchased 4,000 shares of its own Stockholders' equity stock at $20 cash per share. increased Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 No change in total equity stockholders of record. Feb. 28) Paid the dividend declared on January Stockholders' equity 5. decreased Jul. 6) Sold 1,500 of its treasury shares at $24 Stockholders' equity cash per share. decreased Aug. 22) Sold 2,500 of its treasury shares at Stockholders' equity $17 cash per share. decreased Sep. 5) Directors declared a $2 per share cash dividend payable on October 28 to the No change in total equity September 25 stockholders of record. Oct. 28) Paid the dividend declared on September 5. No change in total equity Dec. 31) Closed the $388,000 credit balance Stockholders' equity (from net income) in the Income Summary increased account to Retained Earnings. Total Stockholders' Equity - as calculated on December 31 Total Stockholder's Equity as reported on Stockholder's Equity tab 42,500 80,000 388,000 $ 1,428,500 $ 952,000 Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity Prepare the stockholders' equity section of Kohler Corporation's balance sheet as of December 31, 2020. Dates: Jan 01 to Dec 31 KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2020 Common stock - $10 par value IS 400,000 Retained earnings 506,000 X Total contributed capital 906,000 Paid-in capital in excess of par value, common stock x 46,000 X Total stockholders' equity $ 952,000 Statement of RE Impact on Equity > Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity During the year, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. No Account Title Credit Date Jan 02 Debit 80,000 1 Treasury stock, Common Cash 80,000 2 Jan 05 72,000 Retained earnings Common dividend payable 72,000 3 Feb 28 72,000 Common dividend payable Cash 72,000 4 Jul 06 36,000 Cash Treasury stock, Common Paid-in capital, Treasury stock OS 30,000 6,000 5 Aug 22 Cash Paid-in capital, Treasury stock Retained earnings 42,500 17,500 60,000 6 Sep 05 80,000 Retained earnings Common dividend payable 80,000
