Reference no: EM133052574
Problem - Cash dividends, treasury stock, and statement of retained earnings - Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year.
Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $500,000
Paid-in capital in excess of par value, common stock 80,000
Retained earnings 430,000
Total stockholders' equity $ 1,010,000
During the current year, the following transactions affected its stockholders' equity accounts.
January 2 Purchased 5,000 shares of its own stock at $15 cash per share.
January 5 Directors declared a $4 per share cash dividend payable on February 28 to the February 5 stockholders of record.
February 28 Paid the dividend declared on January 5.
July 6 Sold 2,500 of its treasury shares at $19 cash per share.
August 22 Sold 2,500 of its treasury shares at $11 cash per share.
September 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record.
October 28 Paid the dividend declared on September 5.
December 31 Closed the $428,000 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 current year ended December 31.
3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year.
|
Implement secure wireless network
: Evaluate how to implement a secure wireless network using Active Directory and RADIUS server.
|
|
What was the amount of under or overapplied manufacturing
: Manufacturing overhead exclusive of indirect materials and indirect labour $59,800. What was the amount of under or overapplied manufacturing
|
|
What are the nintendo revenue streams
: What are the Nintendo Revenue streams in the business model canvas? I am not able to figure out the asset sales.
|
|
Unbiased recommendations
: Write a response about how you approached locating and vetting high-quality, unbiased sources of information when researching trends,
|
|
Prepare journal entries to record each of these transactions
: Common stock-$10 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $500,000. Prepare journal entries to record each of transactions
|
|
Criminal justice system
: Focus on ways of LGBTQ youth can be pushed out of school, into the criminal justice system, and into situations where they are unhoused (aka "homeless").
|
|
Pros and cons of regarding data visualization
: What are the pros and cons of each regarding data visualization (select at least two to compare and contrast)?
|
|
What amounts, related to these investments, would Ott report
: Ownership in each security represents less than 20% of the outstanding stock. What amounts, related to these investments, would Ott report
|
|
Conversation within the organizational boardroom
: Organizational effectiveness is always a key topic of conversation within the organizational boardroom. Companies are finally realizing that the answer to runni
|