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Problem 1 3 - 2 A Cash dividends, treasury stock, and statement of retained earnings P 2 Kohler Corporation reports the following components of stockholders'
Problem A Cash dividends, treasury stock, and statement of retained earnings P
Kohler Corporation reports the following components of stockholders' equity at December of the prior year.
Common stock $ par value, shares authorized, shares issued and outstanding
Paidin capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
During the current year, the following transactions affected its stockholders' equity accounts.
Jan. Purchased shares of its own stock at $ cash per share.
Jan. Directors declared a $ per share cash dividend payable on February to the February stockholders of record.
Feb. Paid the dividend declared on January
July Sold of its treasury shares at $ cash per share.
Aug. Sold of its treasury shares at $ cash per share.
Sep. Directors declared a $ per share cash dividend payable on October to the September stockholders of record.
Oct. Paid the dividend declared on September
Dec. Closed the $ credit balance from net income in the Income Summary account to Retained Earnings.
Required
Prepare journal entries to record each of these transactions.
Prepare a statement of retained earnings for the current year ended December
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