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Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 80,000 430, eee $1,335,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug Sept. Oct. Dec. 2 Purchased 4,500 shares of its own stock at $25 cash per share. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,688 of its treasury shares at $29 cash per share. 22 Sold 2,812 of its treasury shares at $22 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 Closed the $408,eee credit balance (from net income) in the Income 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. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Record the purchase of 4,500 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Record the declaration of a cash dividend of $4 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 05 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Record the payment of the cash dividend. Note: Enter debits before credits Date General Journal Debit Credit Feb 28 Record entry Clear entry View general journal Required 1 Required 2. Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Record the reissue of 1,688 shares of the treasury stock for $29 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jul 06 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet 1 2 3 4. 5 6 7 8 Record the reissue of 2,812 shares of the treasury stock for $22 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Aug 22 Record entry Clear entry View general Journal Required 1 Required 2. Required 3 Prepare journal entries to record each of these transactions, View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2019 Total contributed capital 0 Total stockholders' equity $ $ 0
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