Requirements

1.

Record the transactions in the general journal.

2.

Prepare a retained earnings statement for the year ended December 31, 2012.

3.

Prepare the stockholders' equity section of the balance sheet at December 31, 2012.

Paid-in capital:

Common stock, $10 par, 200,000 shares authorized,

15,000 shares issued. . . . . . . . . . . . . . . . . . . . . . . .$150,000

Paid-in capital in excess of par-common. . . . . . . . . . . .310,000

Total paid-in capital. . . . . . . . . . . . . . . . . . . . . . . . . .460,000

Retained earnings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .162,000

Total stockholders' equity. . . . . . . . . . . . . . . . . . . . . . . .$622,000

Feb 6	Distributed a 5 % stock dividend on the common stock. The market value of Goldstein's stock was $21 per share.
July 29	Purchased 2,300 shares of treasury stock at $21 per share.
Nov 27	Declared a $0.10 per share cash dividend on the 13,450 shares of common stock outstanding. The date of record is December 17, 2012, and the payment date is January 7, 2013.
Dec 31	Closed the $81,000 net income to Retained earnings.