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#URGENT HELP .Correct me anyone ! Please. Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. During 2019 , the following
#URGENT HELP .Correct me anyone ! Please.
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. During 2019 , the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,688 of its treasury shares at $24 cash per share. Aug. 22 Sold 2,812 of its treasury shares at $17 cash per share. Sept. 5 Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 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 year ended December 31,2019. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019. Prepare a statement of retained earnings for the year ended indicated by a minus sign.) Prepare the stockholders' equity section of the company's balance sheet as of DecemStep by Step Solution
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