requied 1. 2. 3. Prepare journal entries , prepare a statement of retained earnings , prepare the stockholders equity section
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$20 par value, 100,000 share authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, comnon stock Retained earnings Total stockholders equity 1,100,000 80,000 400,000 $ 1,580,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $15 cash per share Jan. 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record Peb. 28 Paid the dividend declared on January 5 July 6 Sold 1,875 of its treasury shares at $19 cash per share Aug. 22 Sold 3,125 of its treasury shares at $12 cash per share Sept. 5 Directors declared a $4 per share cash dividend payable on Oetober 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 (fron net Income) in the Income Summary account to Retained Earnings Required: 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below Required 1Required 2Required 3 Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Yoar Ended December 31, 2017 earnings, Dec. 31, 2016 Net income Cash dividends declared Treasury stock reissuances earnings, Dec. 31, 2017 S Required 3 > Required 1 Kohler Corporation reports the following c of stockholders' equity on December 31, 2016 Common stock-$20 par value, 100,000 shares authorized 55,000 shares issued and outstanding Paid-in capital in excess of Retained earnings Total stockholders' equity $ 1,100,000 80,000 00,000 par value, comnon stock $1,5B0,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $15 cash per share Jan. 5Directors declared a 4 per share cash dividend payable on February 28 to the February 5 stoekholders of record Feb. 28 Paid the dividend declared on January 5 Tuly 6Sold 1,875 of its treasury shares at s19 cash per share Aug. 22 Sold 3,125 of its treasury shares at $12 cash per share Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the Septenber 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the 388,000 credit balance (rom net income) in the Income Summary account to Retained Earninga Required 1. Prepare journal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below Required Required 2 Required Prepare journal entries to record each of these transactions for 2017 View transaction list Journal entry worksheet Record the purchase of 5,000 shares of its own common stock for $15 cash Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value,100,000 shares authorized, 5,000 shares Lasued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,100,000 80,000 400,000 S1,580,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $15 cash per share Jan. 5 Direetors declared a $4 per share cash dividend payable on February 28 to the February 5 stoekholders of record Feb 28 Paid the dividend deelared on January s July 6 Sold 1,875 of its treasury shares at $19 cash per share Aug. 22 Sold 3,125 of its treasury shares at $12 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 $388,000 credit balance
