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Exercise 13-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at
Exercise 13-21 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2018. Connon stock-$25 par value 50,000 shares authorized 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $325,000 66,000 350,000 $1,241,000 Jan. Jan During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 3,300 shares of its own stock at $25 cash per share. 7 Directors declared a $1.58 por share cash dividend payable on February 28 to the February 9 stockholders of record. Feb. 28 Paid the dividend declared on January 7. July 9 Sold 1,320 of its treasury shares at $30 cash per share. Aug 27 Sold 1,650 of its treasury shares at $20 cash per share. Sept. Directors declared $2 per share cash dividend payable on October 22 to the September 23 stockholders of Oct. 22 Paid the dividend declared on September 9. Dec.31 Closed the $55,000 credit balance (fron net income) in the Incone Summary account to Retained 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 Required 2 Required 3 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 UCL. LE Pune UV and VCC Creo on opener Dec. 31 Closed the $55,000 credit balance (fron net income) in the Incone Summary account to Retained 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 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. (Amounts to be deducted should be indicated by a minus sign) ALEXANDER CORPORATION tockholm mully action of the then December 31 Total stockholders equity (Required 2
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