S Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding Paid-in 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. January 2 Purchased 6,000 shares of its own stock at $20 cash per share. January 5 February 28 July 6 August 22 September 5 October 28 December 31 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Paid the dividend declared on January 5. Sold 3,000 of its treasury shares at $24 cash per share. Sold 3,000 of its treasury shares at $16 cash per share. Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Paid the dividend declared on September 5. Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Prev $ 750,000 70,000 400,000 $ 1,220,000 1 of 1 - www Next >

Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Consoa stock-s1s par valve, 100,000 shares athorlted, 50,000 ahnres Innved and outatanding pald-in capital in excoss of par value, comon stook Retained oarnin Total stockbolders' equilty 7750,00070,000400,000$1,220,000 During the current year, the following transactions affected its stockhoiders' equity accounts. Janaery 2 - Purchased 4,000 aharen of its own stock at $20 essh per share. record. rebruary in jaid the dividend declared en gananry 5 . July 6 bold 3,000 of its treasary ehaees at $24 eash per ahare. Nuguse 22 sold 3,000 of its treasury wharen at $16 eash per whare. record. Oetober 28 . Faid the dividend deolared on Septenber 5. Required: 1. Prepare joumal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year: Complete this question by entering your answers in the tabs below. Prepare journai entries to record each of these transactions. Prepare journal entries to record each of these transactions. Journal entry worksheet 678 Record the purchase of 6,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits. 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the current year ended December 31 . Note: Amounts to be deducted should be indicated by a minus sign. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year