ensive Problem Saved GL1301- Based on Problem 13-2A LO C3, P2, P3 OnPoint Company reports the following components of stockholders' equity on December 31, 2016: Common stock-$10 par value, 120, 090 shares authorized, 50, 000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500, 890 75, 000 410, 900 $985, 000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. 1 Purchased 5, 000 shares of its own stock at s23 cash per share. 5 Directors declared a $2 per share cash dividend payable on Febr uary 28 to the February s stockholders of record Feb. 28 Paid the dividend declared on January 5 July 6 Sold 1, 900 of its treasury shares at $27 cash per share. Aug. 22 Sold 3, 100 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 $154,000 credit balance (from net income) in the Income Summary account to Retained Earnings. General Ledger Trial Balance Statement of Stockholders Impact on Equity Journal RE Equity In year 2017, 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 Prey 1of4 Next > Saved RequirementGeneral Journal General Trial Balance Ledger Statement of Stockholders Impact on Equity RE Equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. View transaction list Journal entry worksheet Purchased 5,000 shares of its own stock at $23 cash per share. Note: Enter debits before credits. Debit Credit Date Account Title Jan 01 Prev 10f 4ll Next> General General Stockholders Impact on RequirementJournal Ledger Trial Balance Statement of RE Equity Equity In year 2017, 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. View transaction list Journal entry worksheet Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Note: Enter debits before credits. Credit Debit Account Title Date Jan 05 Next > Prev 1 of 4 General Stockholders Impact on Requirement Journal Ledger Trial Balance Statement of Stoc Equity RE Equity In year 2017, 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. View transaction list Journal entry worksheet Paid the dividend declared on January 5. Note: Enter debits before credits DebitCredit Account Title Date Feb 28 Next > 1 of 4lI Prev Requirement General General Ledger Thial Balance Statement of stockholders Impact on ournalGeneral RE Equity Equity In year 2017, 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. View transaction list Journal entry worksheet Sold 1,900 of its treasury shares at $27 cash per share. Note: Enter debits before credits Debit Credit Account Title Date Jul 06 Prev 1 of 4 lI Next > Saved General General Trial Balance Requirement Sournal Trial Balance Statement of Stockholders Impact on RE Equity Equity In year 2017, the following transactions affected its stockholders equity accounts. Prepare the n entry is required, select "No journal entry required" in the first input box. ecessary journal entries. If no journal View transaction list Journal entry worksheet Sold 3,100 of its treasury shares at $20 cash per share. Note: Enter debits before credits Debit Credit Account Title Date Aug 22 Next > 10, 41 Prev ensive Problem Saved Requirement General General Trial Balance Statement of Stockholders Impact on ournal Ledger RE Equity Equity In year 2017, 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. View transaction list Journal entry worksheet 1-661 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Note: Enter debits before credits Debit Credit Account Title Date Sep 05 Saved Requirement Journal General Trial Balance Trial Balance Statement of Stockholders Impact on RE Equity Equity In year 2017, the following transactions affected its stockholders equity accounts. Prepare the n entry is required, select "No journal entry required" in the first input box. ecessary journal entries. If no journal View transaction list Journal entry worksheet Paid the dividend declared on September 5 Note: Enter debits before credits. Debit Credit Account Title Date Oct 28 Prey 1 of 4I Next> nsive Problem Requirement General Trial Balance Statement of Stockholders Impact on Journal RE Equity Equity In year 2017, the following transactions affected its stockholders equity accounts. Prepare the necessary journal entries. If no Journa entry is required, select "No journal entry required" in the first input box. View transaction list Journal entry worksheet Closed the $154,000 credit balance (from net income) in the Income Summary account to Retained Earnings Note: Enter debits before credits Debit Credit Account Title Date Dec 31 Prey1 of 4 l Next> General Tral Balance Stament of Stoact on RequirementGeneral RE Equity Equity to: Dec 31 Dates: Jan 01 General Ledger Account Cash Debit Debit Credit Date Credit Balance Date Dec 31 170,000 Dec 31 360,000 Accumulated depreciation- Equipment Date Dec 31 Equipment Debit Balance Debit Credit Date 670,000 Dec 31 Paid-in capital, C Common stock Debit Date No. Balance Credit Date No. 75,000 00,000 Jan 01 Retained earnings Credit Debit Date Balance Credit Debit (154,000) Date No. Dec 31 410,000 Jan 01 Trial Balance> General Journal Prev 10, 4EE1 Next > General Requirement ournal Thial Balance Statn f tockholders igauet o General RE Equity Equity Dates: Jan 01 to: Dec 31 ONPOINT CORPORATION Trial Balance December 31, 2017 Credit Debit Account Title 360,000 170,000 670,000 Cash Accounts receivable Equipment Accumulated depreciation Equipment Common stock Paid-in capital, Common Retained earnings Income summary 61,000 500,000 75,000 410,000 154,000 1,200,000 1,200,000 S Total Statement of RE> General Ledger Pre 1 of 4 Next Dec. 31 Closed the $154,800 credit balance (from net income) in the Income Summary account to Retained Earnings General Ledger Trial Balance of Statement of Stockholders Impact on Equity Requirement Journal Equity RE Prepare the Statement of Retained Earnings for OnPoint Corporation for the year ended December 31, 2017 ONPOINT CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Stockholders Equity> Trial Balance Pre 1 of4 l Next July b s010 1, yu or its treasury snares at szi casn per snare. Aug. 22 Sold 3,100 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 $154,908 credit balance (from net income) in the Income Summary account to Retained Earnings General ournalGeneral Trial Balance Statement of StockholdersImpact on ent LedgerT RE Equity Equity Prepare the stockholders' equity section of OnPoint Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 ONPOINT CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total contributed capital Total stockholders' equity Impact on Equity) Statement of RE K Prey 10f 4EE Next > sive Problem 6 Saved Requirement GeneralGeneral Statement of Stockholders Impact on Equity Journal Ledger Trial Balance of RE Equity 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, 2017, as calculated, agrees with the amount reported on the balance sheet Dates: Jan 01 to: Dec 31 Impact on equity Total Stockholders' Equity- December 31, 2016 Jan. 1) Purchased 5,000 shares of its own stock at $23 cash per share Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28) Paid the dividend declared on January 5. Jul. 6) Sold 1,900 of its treasury shares at $27 cash per share Aug. 22) Sold 3,100 of its treasury shares at $20 cash per share Sep. 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 $154,000 credit balance (from net income) in the income Summary account to Retained Earnings Next > 1 of 4 Prev