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Laexander corporation reports the folloting components of stockholders' equity December 31,2018 Common stock-$25 par Valve, 50,000 shares authorized, 32,000 shares issued and outstanding Paid-in capital
Laexander corporation reports the folloting components of stockholders' equity December 31,2018 Common stock-$25 par Valve, 50,000 shares authorized, 32,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 800,000 64,000 347,000 $1,211,000 During the year, the following transactions affected its stockholders' equity accounts Jan: Jan. Feb. July 2 Purchased 3,200 shares of its own stock at $25 cash per share. 7 Directors declared $1.5e per share cash dividend payable on February za to the February stockholders of record. 28 Paid the dividend declared on January 7 9 Sold 1,280 ofta treasury Shares at 520 cash per share. 27 Sold 1,600 of its treasury shares at $20 cash per share. 9 Directors declared $2 pershore cash dividend payable able on October 22 to the September 23 stockholders of record, 22 Paid the dividend declared on September 9. 31 Closed the $54,000 credit balance (from net income) in the Incone Summary account to Retained Earning Aug Sept. Oct. Dec. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 hos Prepare a statement of retained earnings for the year ended December 31, 2019. (Amounts to be deducted should indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31 $ 0 $ 0 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, 2019. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity $ 0
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