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Please check my answer. Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: Common stock-$20 par value, 100,000 shares authorized, 50,000
Please check my answer.
Kohler Corporation reports the following components of stockholders' equity on December 31, 2015: Common stock-$20 par value, 100,000 shares authorized, 50,000 shares issued and $1,000,000 outstanding Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 $1,480,000 Total stockholders' equity n year 2016, the following transactions affected its stockholders equity accounts. Jan. 1 Purchased 4,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,688 of its treasury shares at $29 cash per share. Aug. 22 Sold 2,812 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $4 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 $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings
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