York's outstanding shares consist of 80,000 shares of 7 5 non cumulative preferred stock with a par value of $5 and also 190,000 shares of common stock with a par value of $1 During its first four years of operation, the corporation declared and paid the following total cash dividends Total Cash Dividends 2015 ps 18,000 Total Cash Dividends 2016 28,000 Total Cash Dividends 2017 300 000 Total Cash Dividends 2018 450 000 Exercise 11 8 Dividends on non cumulative common and preferred shares LO C2 Determine the number of dividends paid each year to each of the two classes of stockholders preferred and common Also calculate the total dividends paid to each class for the four years combined (Round your Dividend per preferred stock answers to 3 decimal places ) Par Value per Preferred Share dividend rate Dividend per Preferred Stock Number of preferred shares preferred dividend Annual Preferred Dividend Total cash dividends paid Paid to Preferred Paid to Common Dividends in arrears at year end 2015 $18,000 2016 28,000 2017 300 000 2018 450 000 Total $796,000 $0 $0 Determine the number of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative Also determine the total dividends paid to each class during the four years combined (Round your Dividend per preferred stock answers to 3 decimal places ) Par Value per Preferred Share dividend rate Dividend per Preferred Stock Number of preferred shares preferred dividend Annual Preferred Dividend Total cash dividends paid Paid to Preferred Paid to Common Dividends in arrears at year end 2015 $18,000 2016 28,000 2017 300 000 2018 450 000 Totals $796,000 $0 $0 As of October 10, the stockholders' equity of Sherman Systems appears as follows Common Stock $10 par value, 74,000 shares authorized, issued and outstanding ps 740 000 Paid in capital in excess of par value, common shares 226,000 Retained earnings 880 000 Equity of total shareholders ps 1,846,000 1 Prepare journal entries to record the following transactions for Sherman Systems It bought 5,200 shares of its own capital stock for $27 per share on October 11 He sold 1,050 treasury shares on November 1 for $33 cash per share He sold all of the remaining treasury shares on November 25 for $22 cash per share 2 Prepare the revised stock section of your balance sheet after the October 11 treasury stock purchase Revised equity section of balance sheet after October 11 Total capital contributed 0 Total 0 Equity of total shareholders $0 Kohler Corporation reports the following components of stockholders' equity as of December 31, 2016 Common Stock $20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding ps 900,000 Paid in capital in excess of par value, common shares 60 000 Retained earnings 460 000 Equity of total shareholders ps 1,420,000 In 2017, the following transactions affected your stockholders' equity accounts Ene 1 He bought 5,000 shares of his own stock for $20 cash per share Ene 5 The directors declared a cash dividend of $2 per share payable on February 28 to shareholders of record on February 5 Feb 28 It paid the declared dividend on January 5 Julio 6 He sold 1,875 of his own shares for $24 cash per share Ago 22 He sold 3,125 of his treasury shares for $17 cash per share September 5 The directors declared a cash dividend of $2 per share payable on October 28 to shareholders of record on September 25 Oct 28 It paid the declared dividend on September 5 Dic 31 Closed credit balance of $388,000 (net income) in the Income Summary account to Retained Earnings Required 1 Prepare journal entries to record each of these transactions for 2017 2 Prepare a statement of retained earnings for the year ended December 31, 2017 3 Prepare the stockholders' equity section of the company's balance sheet company as of December 31, 2017 Record the purchase of 5,000 shares of your own capital stock at $20 per share Record the declaration of a cash dividend of $2 per share Record the cash dividend payment Record the reissue of 1,875 treasury shares at $24 cash per share Record the reissue of 3,125 treasury shares at $17 cash per share Record the declaration of a cash dividend of $2 per share Record the cash dividend payment Record the closing entry for the income summary account that has a credit balance of $388,000 Prepare a statement of retained earnings for the year ended December 31, 2017 (Amounts to be deducted must be indicated with a minus sign ) KOHLER CORPORATION Statement of retained earnings For the year ended December 31, 2017 0 $0 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total capital contributed 0 Equity of total shareholders $0

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York's outstanding shares consist of 80,000 shares of 7.5% non-cumulative preferred stock with a par value of $5 and also 190,000 shares of common stock

York's outstanding shares consist of 80,000 shares of 7.5% non-cumulative preferred stock with a par value of $5 and also 190,000 shares of common stock with a par value of $1. During its first four years of operation, the corporation declared and paid the following total cash dividends:


Total Cash Dividends 2015	ps	18,000
Total Cash Dividends 2016		28,000
Total Cash Dividends 2017		300.000
Total Cash Dividends 2018		450.000

Exercise 11-8 Dividends on non-cumulative common and preferred shares LO C2

Determine the number of dividends paid each year to each of the two classes of stockholders: preferred and common. Also calculate the total dividends paid to each class for the four years combined. (Round your "Dividend per preferred stock" answers to 3 decimal places.)

	Par Value per Preferred Share	dividend rate	Dividend per Preferred Stock	Number of preferred shares	preferred dividend
Annual Preferred Dividend:
	Total cash dividends paid	Paid to Preferred	Paid to Common	Dividends in arrears at year-end
2015	$18,000
2016	28,000
2017	300.000
2018	450.000
Total:	$796,000	$0	$0

Determine the number of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative . Also determine the total dividends paid to each class during the four years combined. (Round your "Dividend per preferred stock" answers to 3 decimal places.)

	Par Value per Preferred Share	dividend rate	Dividend per Preferred Stock	Number of preferred shares	preferred dividend
Annual Preferred Dividend:
	Total cash dividends paid	Paid to Preferred	Paid to Common	Dividends in arrears at year-end
2015	$18,000
2016	28,000
2017	300.000
2018	450.000
Totals	$796,000	$0	$0

As of October 10, the stockholders' equity of Sherman Systems appears as follows.


Common Stock: $10 par value, 74,000 shares authorized, issued and outstanding	ps	740.000
Paid-in capital in excess of par value, common shares		226,000
Retained earnings		880.000
Equity of total shareholders	ps	1,846,000

1. Prepare journal entries to record the following transactions for Sherman Systems.

It bought 5,200 shares of its own capital stock for $27 per share on October 11.

He sold 1,050 treasury shares on November 1 for $33 cash per share.

He sold all of the remaining treasury shares on November 25 for $22 cash per share.

2. Prepare the revised stock section of your balance sheet after the October 11 treasury stock purchase.

Revised equity section of balance sheet after October 11


Total capital contributed	0

Total	0

Equity of total shareholders	$0

Kohler Corporation reports the following components of stockholders' equity as of December 31, 2016:


Common Stock: $20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding	ps	900,000
Paid-in capital in excess of par value, common shares		60.000
Retained earnings		460.000
Equity of total shareholders	ps	1,420,000

In 2017, the following transactions affected your stockholders' equity accounts.

Ene.	1	He bought 5,000 shares of his own stock for $20 cash per share.
Ene.	5	The directors declared a cash dividend of $2 per share payable on February 28 to shareholders of record on February 5.
Feb.	28	It paid the declared dividend on January 5.
Julio	6	He sold 1,875 of his own shares for $24 cash per share.
Ago.	22	He sold 3,125 of his treasury shares for $17 cash per share.
September	5	The directors declared a cash dividend of $2 per share payable on October 28 to shareholders of record on September 25.
Oct.	28	It paid the declared dividend on September 5.
Dic.	31	Closed credit balance of $388,000 (net income) in the Income Summary account to Retained Earnings.

Required:
1. Prepare journal entries to record each of these transactions for 2017.
2. Prepare a statement of retained earnings for the year ended December 31, 2017.
3. Prepare the stockholders' equity section of the company's balance sheet company as of December 31, 2017.

Record the purchase of 5,000 shares of your own capital stock at $20 per share.

Record the declaration of a cash dividend of $2 per share.

Record the cash dividend payment.

Record the reissue of 1,875 treasury shares at $24 cash per share.

Record the reissue of 3,125 treasury shares at $17 cash per share.

Record the declaration of a cash dividend of $2 per share.

Record the cash dividend payment.

Record the closing entry for the income summary account that has a credit balance of $388,000.

Prepare a statement of retained earnings for the year ended December 31, 2017. (Amounts to be deducted must be indicated with a minus sign.)