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Kohler Corporation reports the following components of stockholders equity at December 3 1 , 2 0 1 9 . Common stock $ 1 0 par
Kohler Corporation reports the following components of stockholders equity at December Common stock$ par value, shares authorized, shares issued and outstanding $ Paidin capital in excess of par value, common stock Retained earnings Total stockholders' equity $ During the following transactions affected its stockholders equity accounts. January Purchased shares of its own stock at $ cash per share. January Directors declared a $ per share cash dividend payable on February to the February stockholders of record. February Paid the dividend declared on January July Sold of its treasury shares at $ cash per share. August Sold of its treasury shares at $ cash per share. September Directors declared a $ per share cash dividend payable on October to the September stockholders of record. October Paid the dividend declared on September December Closed the $ credit balance from net income in the Income Summary account to Retained Earnings. Required: Prepare journal entries to record each of these transactions. Prepare a statement of retained earnings for the year ended December Prepare the stockholders equity section of the companys balance sheet as of December Prepare a statement of retained earnings for the year ended December Note: Amounts to be deducted should be indicated by a minus sign. Prepare the stockholders equity section of the companys balance sheet as of December
Kohler Corporation reports the following components of stockholders equity at December
Common stock$ par value, shares authorized, shares issued and outstanding $
Paidin capital in excess of par value, common stock
Retained earnings
Total stockholders' equity $
During the following transactions affected its stockholders equity accounts.
January Purchased shares of its own stock at $ cash per share.
January Directors declared a $ per share cash dividend payable on February to the February stockholders of record.
February Paid the dividend declared on January
July Sold of its treasury shares at $ cash per share.
August Sold of its treasury shares at $ cash per share.
September Directors declared a $ per share cash dividend payable on October to the September stockholders of record.
October Paid the dividend declared on September
December Closed the $ credit balance from net income in the Income Summary account to Retained Earnings.
Required:
Prepare journal entries to record each of these transactions.
Prepare a statement of retained earnings for the year ended December
Prepare the stockholders equity section of the companys balance sheet as of December
Prepare a statement of retained earnings for the year ended December
Note: Amounts to be deducted should be indicated by a minus sign.
Prepare the stockholders equity section of the companys balance sheet as of December
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