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plese help with all 3 parts of the question Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year.
plese help with all 3 parts of the question
Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Camon stock-515 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Pald-in capital in ercess of por value, comon stock metained earnings Total stockholders" equity During the current year, the following transactions affected its stockholders' equify accounts. Zanuary 2 purchased 6,000 shares of its own stock at 325 cash per share. January 5 oirectors declured a 56 per share cath dividend payable pn february as to the february 5 stockholders of record. February 28 paid the dividend declared on Jenuary 5 . July 6 Sold 3,000 of its treasury shares at 529 cash per share. August 22 501d 3,00e of its treasury shares at $21 cash per share. Septenber 5 oirectors declared a 56 per share cash dividend poyoble on october 28 to the septemer as stockholders of record. october 26 PaId the dividend declared on septenser 5. Decenber 31 Closed the 5428,000 credit balance (from net incone) in the Incone sumary account to Retained farnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained eamings for the current year ended December 31 3. Prepare the stockholders' equaty section of the balance sheet as or December 31 of the current yeat Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of these transactions. Journai entry worksheet Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Comon stock-\$15 par valur, a0e, e0e shares authorized, 55,000 shares issued and outstandirig Pald-in copital in excess of par valoe, coman atoch Retalned Rarnings Total stockolders' equity During the current yeat, the following transactions affected its stockholders' equity accounts Jenwary 2. Purchated 6, tove sheres of its cel steck at 125 cawh per share. Jannary s olrecters declared a i6 per share cash diyidend poyable on Rebriary 28 to the rebruary 5 stockholders of record. Tebiumery 28 Paid the dividend decteres on Janvery 5. Zuly is sold 3,000 of its treatury shares at 520 eash per share. Auchast 22 Sold 3 , bee of its treatury theres it sal cast per share. septeaber's olrectors declared o 56 per share cash dividend poyable an octoler 21 to the Stptember 25 itockholders of record. october 28 pald the dividend dectired on septenber. 5 . Cectaber 31 clesel the gezil, oos credit bulanct (frem net incone) in the incone sumary account to fetained caenings. Required: 1. Prepare journal entries to record each of these transactons. 2. Prepare a statement of retained eachings for the cument year ended December 31 3. Piepare the stochboldeis equity secton of the balance sheet al of December at of the current year: Coniplete this question by entaring your answers in the tabs beluw. Prepare a statement of retained earnings for the carrent year ended December 31. (Amounts to be deducted bhould be ingicated by a mienuin elany) Kohler Corporation reports the following comporients of stockholders' equity at Becember 31 of the prior year Common stock-51s par value, 160,00e shares suthorized, 55,000 shares. Istued and outstandIng Pald in capital in eicess of por value, comon atock Retained rorning Total stockholders" equity 5825,60079,600460,00051,295,000 During the current year, the following transactions affected its stockholders' equity accourits. Jamiary: 2 Durchased 6,000 shares of Its oun stock at 325 cash per share. Jawwiry 5 pirectors declared a s6 per share cash dividend payable on February 2l ta the february 5 stockholders of recoed. Tebruary 21 pald the dividend declared on January 5 . July 6 sold 3, e0e of its theasary thares at 529 cash per share. August 22 sold 3,000 of its treasury shares at $21 cash per thare. Septeaber 5 pirectors declared a $6 per ahare cash dividend payable on october 2t to the septenber as stockholders of recard. october 28 Pald the dividend declared on september 5 . pecenter 31 closed the $426,000 credit bolonce (from net incame) in the incoee suamary account to ketained farnings. Required: 1. Prepare journal entries to record each of these transactions: 2. Prepare a statement of retained eamings for the curtent year ended Decembet 91 . 3. Prepare the stockholders equity section of the balance sheet as of December 31 of the current year Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December as of the current year Step by Step Solution
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