Unit 5 Assignment 5 - Prepare share holder equity

Prepare transactions according to the Generally Accepted Accounting Principles.

Analyze balance sheet equity entries.

Account for various transactions using industry-standard accounting software.

This assignment will give you experience with complex accounting transactions. In this assignment you will prepare the journal entries for the equity section of the balance sheet and prepare the shareholder equity section of the balance sheet.

Share Holder equity the guy on December 31 Utan Corporation reports the following components of Commons -520 par 100.000 homm Tatal erithaler' Dungeya fungwana 2 we w ed for December 2013 TETETTEL SITE of Reine E S 'te Section of the lange 1 Share Holder equity 3 Utah Corporation reports the following components of stockholders' equity on December 31 Cowo Common stock $20 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 800,000 60,000 430,000 1,290,000 11 During thea year, the following transactions affected its stockholders' equity accounts 13 Jan. Jan 15 Feb 16 July 17 Aug 19 Sept 19 Oct Dec o oso on Purchased 4,500 shares of its own stock at $15 cash per share. 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 1 688 of its treasury shares at S19 cash per share. Sold 2 812 of its treasury shares at S12 cash per share. Directors declared a $2 per share cash dividend payable on Paid the dividend declared on September 5 Closed the $408.000 credit balance (from net income) in the Income Summary account to Retained Earnings Problem 5 Select destination and press ENTER or choose laste Oy earch 22 Required: 23 1. Prepare journal entries to record each of these transactions 24 2. Prepare a statement of retained earnings for the year ended December 31, 2019. 25 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. General Journal Debit Date 2-Jan Credit 5 Jan 28-Feb 6-Jul 22.Aug Problems Select castrati Type here to search Statement of Retained Earnings 31-Dec Beginning retained earnings 2 ELE Ending retained earnings Stockholders' Equity Section of the Balance Sheet 31-Dec Total contributed capital Total stockholders' equity Problem 5 Select destination and press ENTER or choose passe