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filled some of it out. i need all of it filled out please. every photo needs to be answered! it all goes to one question
filled some of it out. i need all of it filled out please. every photo needs to be answered! it all goes to one question plz help asap!
Problem 11-2A (Algo) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-\$20 par value, 102, 0es shares authorized, 45, 060 shares issued and outstanding Paid-in capital in excess of por value, comnon stock Retained earnings Total stockholders' equity $960,00080,000480,060$1,380,000 During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 6 , 000 shares of 1 ts own stock at $15 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the february 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 sold 3 , eae of its treasury shares at 519 cash per share. August 22 sold 3,000 of its treasury shares at 511 cash per share. Septenber 5 0irectors declared a 52 per share cash dividend payabte on 0ctober 28 to the 5 septenber 25 stockholders of record. Oetober 28 Paid the dividend declared on Septenber 5 . Decenber 31 Closed the $428,008 credit balance (froo net incone) in the Incone Sunnary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31. (Amounts to be deducted indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current Step by Step Solution
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