Problem 11 2A Part 3 The following information applies to the questions displayed below Kohler Corporation reports the following components of stockholders equity on December 31, 2013 Common stock$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid in capital in excess of par value, common stock 70,000 Retained earnings 430,000 Total stockholders equity $ 1,600,000 In year 2014, the following transactions affected its stockholders equity accounts Jan 1 Purchased 5,500 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 2,063 of its treasury shares at $29 cash per share Aug 22 Sold 3,437 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 $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings 3 Prepare the stockholders' equity section of the companys balance sheet as of December KOHLER CORPORATION Stockholders Equity Section of the Balance Sheet December 31, 2014 Total contributed capital $ Total stockholder's equity $ In Row 1 please choose from the following terms (Common dividend payable Common stock $20 par value Income summary Paid in capital in excess of par value 'common stock' Retained earnings Treasury stock reissuances) In Row 2 please choose from the following terms (Common dividend payable Common stock $20 par value Income summary Paid in capital in excess of par value 'common stock' Retained earnings Treasury stock reissuances) In Row 3 please choose from the following terms (Common dividend payable Common stock $20 par value Income summary Paid in capital in excess of par value 'common stock' Retained earnings Treasury stock reissuances)

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 16, 2024

Problem 11-2A Part 3 [The following information applies to the questions displayed below.] Kohler Corporation reports the following components of stockholders equity on December 31,

Problem 11-2A Part 3

[The following information applies to the questions displayed below.]

Kohler Corporation reports the following components of stockholders equity on December 31, 2013:


Common stock$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding	$	1,100,000
Paid-in capital in excess of par value, common stock		70,000
Retained earnings		430,000

Total stockholders equity	$	1,600,000

In year 2014, the following transactions affected its stockholders equity accounts.

Jan.	1	Purchased 5,500 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 2,063 of its treasury shares at $29 cash per share.
Aug.	22	Sold 3,437 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 $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

Prepare the stockholders' equity section of the companys balance sheet as of December

KOHLER CORPORATION Stockholders Equity Section of the Balance Sheet

December 31, 2014



Total contributed capital	$

Total stockholder's equity	$

In Row 1 please choose from the following terms. (Common dividend payable; Common stock -$20 par value; Income summary; Paid-in capital in excess of par value 'common stock'; Retained earnings; Treasury stock reissuances)

In Row 2 please choose from the following terms. (Common dividend payable; Common stock -$20 par value; Income summary; Paid-in capital in excess of par value 'common stock'; Retained earnings; Treasury stock reissuances)

In Row 3 please choose from the following terms. (Common dividend payable; Common stock -$20 par value; Income summary; Paid-in capital in excess of par value 'common stock'; Retained earnings; Treasury stock reissuances)