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The rest of the instructions for the General journal/Journal entry worksheet are jan05 Record the declaration of a cash dividend of $4 per share. feb

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The rest of the instructions for the General journal/Journal entry worksheet are

  • jan05 Record the declaration of a cash dividend of $4 per share.
  • feb 28Record the payment of the cash dividend.
  • jul 06 Record the reissue of 2,063 shares of the treasury stock for $19 cash per share.
  • aug 22 Record the reissue of 3,437 shares of the treasury stock for $12 cash per share.
  • sep 05 Record the declaration of a cash dividend of $4 per share.
  • oct 28 Record the payment of the cash dividend.
  • dec31 Record the entry to close the income summary account having a credit balance of $408,000.

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Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$20 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 $1,000,000 60,000 400,000 $1,460,000 In year 2018, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 1 Purchased 5,500 shares of its own stock at $15 cash per share. 5 Directors declared a $4 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 2,063 of its treasury shares at $19 cash per share. 22 Sold 3,437 of its treasury shares at $12 cash per share. 5 Directors declared a $4 per share cash dividend payable on October 29 to the September 25 stockholders of record. 28 Paid the dividend declared on September 5. 31 closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Oct. Dec. Required: 1. Prepare journal entries to record each of these transactions for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. Complete this question by entering your answers in the tabs below. Journal entry worksheet 2 3 4 5 6 7 8 Record the purchase of 5,500 shares of its own common stock for $15 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal Prepare a statement of retained earnings for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) KOHLER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2018 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2018 Total contributed capital Total stockholders' equity

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