general journal

statement of RE

stockholders Equity

impact of equity

Common stock-$10 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $400,000 60,000 330,000 $790,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $27 cash per share. Aug. 22 Sold 2,500 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 $549,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of Stockholders Equity Impact on Equity