i need help with this homweork problem i already tried doing it on my own bur kept getying it wrong, i think i keep on missings things feom the journal entries. ( i need help with all the journal entries too)
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Connon stock-$10 par value, 100,000 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 60,000 270.000 $ 730,000 In year 2018, the following transactions affected its stockholders' equity accounts Jan. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. 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 $24 cash per share. Aug. 22 Sold 2,500 of its treasury shares at $17 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 $388,000 credit balance (fron net income) in the Income Summary account to Retained Earnings Required: 1. Prepare journal entries to record each of these transactions for 2018 2. Prepare a statement of retained earnings for the year ended December 31, 2018 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018, 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 for 2018, View transaction list Journal entry worksheet > 2 1 78 3 4 5 6 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits Debit Credit Date General Journal Jan 01 Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Conton stock-510 par value, 180,000 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 60.000 270,000 $738,200 In year 2018, the following transactions affected its stockholders equity accounts Jan. 1 Purchased 4,000 shares of its own stock at sze 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 1,508 of its treasury shares at $24 cash per share. Aug, 22 Sold 2,500 of its treasury shares at $17 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 $388,000 credit balance (fron net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions for 2018 2. Prepare a statement of retained earnings for the year ended December 31 2018 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018 Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2018 Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$10 par value, 100,000 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 60,000 270,000 $ 730,000 In year 2018, the following transactions affected its stockholders' equity accounts. Feb. Jan. 1 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,589 of its treasury shares at $17 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 $388,000 credit balance (fron net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018 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, 2018. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2018 0 Total contributed capital $ 0 Total stockholders' equity
