Sanchez Company reports the following components of stockholders' equity on January 1. $ Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 500,000 75,000 410,000 985,000 $ During the year, the following transactions affected its stockholders' equity accounts. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 5,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,900 of its treasury shares at $27 cash per share. 22 Sold 3,100 of its treasury shares at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 closed the $312,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Sanchez Corporation for the year ended December 31. Stockholders' Equity tab - Prepare the Stockholders' equity section of Sanchez Corporation's December 31 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab. Requirement General Journal The equity sections for Austin Group at the beginning of the year (January 1) and end of the year (December 31) follow. $ Stockholders' Equity (January 1) Common stock-$6 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 240,000 36,000 200,000 476,000 $ Stockholders' Equity (December 31) Common stock-$6 par value, 110,000 shares authorized, 45,600 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $ 273,600 80,800 360,000 714,400 (60,000) $ 654,400 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $1.60 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $1.60 per share cash dividend, payable on April 10. July 5 Declared a $1.60 per share cash dividend, payable on July 10. July 31 Declared a 168 stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $1.60 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend General Ledger tab - Prepare journal entries for each transaction. Cash Dividends tab - Calculate the amount of each cash dividend Stock Dividend tab - Calculate the amount of retained earnings to be capitalized. Requirement General Journal > Sanchez Company reports the following components of stockholders' equity on January 1. $ Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 500,000 75,000 410,000 985,000 $ During the year, the following transactions affected its stockholders' equity accounts. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 5,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. 28 Paid the dividend declared on January 5. 6 Sold 1,900 of its treasury shares at $27 cash per share. 22 Sold 3,100 of its treasury shares at $20 cash per share. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 closed the $312,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Sanchez Corporation for the year ended December 31. Stockholders' Equity tab - Prepare the Stockholders' equity section of Sanchez Corporation's December 31 balance sheet. Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab. Requirement General Journal The equity sections for Austin Group at the beginning of the year (January 1) and end of the year (December 31) follow. $ Stockholders' Equity (January 1) Common stock-$6 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 240,000 36,000 200,000 476,000 $ Stockholders' Equity (December 31) Common stock-$6 par value, 110,000 shares authorized, 45,600 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $ 273,600 80,800 360,000 714,400 (60,000) $ 654,400 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. Jan. 5 Declared a $1.60 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $1.60 per share cash dividend, payable on April 10. July 5 Declared a $1.60 per share cash dividend, payable on July 10. July 31 Declared a 168 stock dividend when the stock's market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $1.60 per share cash dividend, date of record October 10. Requirement General Journal General Ledger Trial Balance Cash Dividends Stock Dividend General Ledger tab - Prepare journal entries for each transaction. Cash Dividends tab - Calculate the amount of each cash dividend Stock Dividend tab - Calculate the amount of retained earnings to be capitalized. Requirement General Journal >