I know it looks like a lot but it's all one question. It's just the word problem that looks like a lot. There are journal entries for each date.
Common stock- $20 par value, 100,000 shares authorized, 55, 600 shares issued and outstanding paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares of its own stock at $25 cash per share. January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholder5 of record. February 28 Paid the dividend declared on January 5. July 6 sold 2,000 of its treasury shares at $29 cash per share. August 22 sold 2 , eee of its treasury shares at $21 cash per share. september 5 Directors declared a $4 per share cash dividend payable on october 28 to the septenber 25 stockholders of record. october 28 paid the dividend declared on septenber 5. oecenber 31 closed the $368, eee credit balance (from net incone) in the Incone Sumary 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 joumal entries to record each of these transactions. Journal entry worksheet \begin{tabular}{llllllll} 2 & 3 & 4 & 5 & 6 & 7 & 8 \end{tabular} Record the purchase of 4,000 shares of its own common stock for $25 cash per share. Notei Enter debits before credits. Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4 , eee shares of its own stock at $25 cash per share. January 5 Directors declared a $4 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 2 , eee of its treasury shares at $29 cash per share. August 22 sold 2, 22 of its treasury shares at $21 cash per share. september 5 Directors declared a $4 per share cash dividend payable on october 28 to the 5 eptenber 25 stockholders of record. october 28 paid the dividend declared on september 5. Decenber 31 closed the $368,000 credit balance (from net incone) in the Incone sumary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained eamings 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 a statement of retained earnings for the current year ended December 31. Note: Amounts to be deducted should be indicated by a minus sign. Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4 , eee shares of its oin stock at $25 cash per share. January 5 Directors declared a $4 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 2 , 800 of its treasury shares at $29 cash per share. August 22 sold 2 , eee of its treasury shares at $21 cash per share. september 5 Directors declared a $4 per share cash dividend payable on october 28 to the september 25 stockholders of record. october 28 paid the dividend declared on septenber 5. December 31 closed the $368,000 credit balance (from net incone) in the Income sumary 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 or December 31 of the current year. 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 year
