Marcellus Company reports the following components of stockholders' equity on January 1 Common stock-10 par value, 110,000 shares authorized, 40,00 shares issued and outstanding Pald-in capital in excess of par value, common stock Retained earnings Total stockholders equity 5.400,000 68,000 338, ce $ 79, ee During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,800 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 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, Bee of its treasury shares at 327 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share September Directors declared a $2 per share cash dividend payable on October 23 to the Septender 25 stockholders of record October 28 Paid the dividend declared on September 5. December 31 Closed the $549,500 credit balance (from net income in the Income Surnary account to Retained Earnings. L. 1 close the 1549,50 credit balance (from net income in the Income Summary account to Rota Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity Prepare the Statement of Retained Earnings for Marcellus Corporation for the year ended December 31. ! MARCELLUS CORPORATION Statement of Retained Earnings For Year Ended December 31 ices Add: Cash dividends declared Add: Treasury stock reissuances Beginning retained earnings Ending retained earnings Less: Cash dividends declared Trial Balance Stockholders Equity > Less Treasury stock reissuances MAVU payable on October 28 to the September 25 vLcooer 28 Paid the dividend declared on September 5. December 31 Closed the $549,5ee credit balance (from net income) in the Income Summary account to Reta Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity Prepare the stockholders' equity section of Marcellus Corporation's balance sheet as of December 31. Dates: January 01 to: MARCELLUS CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common dividend payable Common stock - $10 par value Income summary Paid-in capital in excess of par value, common stock Retained earnings Treasury stock reissuances impact on Equity > UEDISH YIDDIS MATRIMOINMIDUSMAYISCUITS GRILL MSHTIMOLUME balance sheet: Dates: January 01 ) Impact on equity nces Show All Items Total Stockholders' Equity - January 1 January 2) Purchased 4,000 shares of its own stock at $23 cash per share. January 5) Directors declared a $2 per share cash a dividend payable on Feb. 28 to the Feb. 5 stockholders of record February 28) Paid the dividend declared on January 5 July 6) Sold 2.000 of its treasury shares at $27 cash per share. August 22) Sold 2.000 of its treasury shares at $10 cash per share. September 5) Directors declared a $2 pe share cash dividend payable on October 28 to the September 25 stockholders of record October 28) Paid the dividend declared on September 5. December 21) Closed the $540,500 credit balance (from net income) in the Income Summary account to Retained Eamings Stockholders' equity increased Stockholders' equity decreased No change in total equity
