During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,60 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 recore February 28 Paid the dividend declared on January 5. July 6 Sold 2,600 of its treasury shares at $24 cash per share. August 22 Sold 2, 600 of its treasury shares at $16 cash per share. September 5 Directors declared a \$2 per share cash dividend payable on October 28 to the September 25 stockholders of recol October 28 Paid the dividend declared on September 5. December 31 closed the $388, @ee credit balance (from net income) in the Income Summary account to Retained Earnings. General Journal tab - Journalize the transactions related to the notes and accounts payable of Kohler Corporation. The General Ledger, Trial Balance and Schedule of Payables will be updated based on your entries. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Kohler Corporation for the year ended December 31 . Stockholders' Equity tab - Prepare the Stockholders' equity section of Kohler Corporation's December 31 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab. journal entry is required, select "No journal entry required" in the first input box. Journal entry worksheet 345678> Purchased 4,000 shares of its own stock at $20 cash per share. Note: Enter debits before credits. Accounts receivable \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Equipment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 660,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accumulated depreciation - Equipment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 60,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 400,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Paid-in capital, Common } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 60,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Retained earnings } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 270,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Income summary } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & (388,000) \\ \hline \end{tabular} Prepare the Statement of Retained Earnings for Kohler Corporation for the year ended December 31 . Prepare the stockholders' equity section of Kohler Corporation's balance sheet as of December 31 . For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31 , as calculated, agrees with the amount reported on the balance sheet
