Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls help & TIA the last two pic are part off part 1 for the previod pic. i hope its complete now. MULLEY During 2019,

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribedpls help & TIA
image text in transcribed
image text in transcribedthe last two pic are part off part 1 for the previod pic. i hope its complete now.
MULLEY During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2. Purchased 4,000 shares of its own stock at $20 cash per share. Jon. 5 Directors declared $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $24 cash per share Aug 22 Sold 2.500 of Its treasury shares at $17 cash per share Sept. 5 Directors declared a $2 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 $388,000 credit balance (from net income) in the Income Summary account to Retoined tarnings 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 1 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Requ 2 Record the declaration of a cash dividend of $2 per share. 3 Record the payment of the cash dividend. 4 Record the reissue of 1,500 shares of the treasury stock for $24 cash per share. 5 Record the reissue of 2,500 shares of the treasury stock for $17 cash per share. 6 Record the declaration of a cash dividend of $2 per share. Note : journal entry has been entered Complete this question by entering your answers in the tabs be Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2019 0 $ 22.400 .

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Company Accounting

Authors: Ken Leo, Jeffrey Knapp, Susan Mcgowan, John Sweeting, Leah Meng

12th Edition

0730382672, 9780730382676

More Books

Students also viewed these Accounting questions

Question

What is the difference between entropy and enthalpy?

Answered: 1 week ago

Question

8.10 Explain several common types of training for special purposes.

Answered: 1 week ago