Solution 1:
Kohler Corporation - Journal Entries | |||
Date | Particulars | Debit | Credit |
1-Jan | Treasury Stock A/c Dr | $112,500.00 | |
To Cash | $112,500.00 | ||
(Being 4500 shares of treasury stock purchased at $25 per share) | |||
5-Jan | Retained Earnings Dr | $162,000.00 | |
To Dividend payable [(45000 - 4500)*4] | $162,000.00 | ||
(Being dividend declared) | |||
28-Feb | Dividend Payable Dr | $162,000.00 | |
To Cash | $162,000.00 | ||
(Being dividend paid) | |||
6-Jul | Cash A/c Dr (1688*29) | $48,952.00 | |
To Treasury Stock (1688*25) | $42,200.00 | ||
To Additional Paid in Capital (2250*$4) | $6,752.00 | ||
(Being 1688 shares of treasury stock sold at $29 per share) | |||
22-Aug | Cash A/c Dr (2812*22) | $61,864.00 | |
Additional Paid in Capital A/c Dr | $6,752.00 | ||
Retained Earnings Dr (Balancing figure) | $1,684.00 | ||
To Treasury Stock (2812*$25) | $70,300.00 | ||
(Being 2812 shares of treasury stock sold at $22 per share) | |||
5-Sep | Retained Earnings Dr | $180,000.00 | |
To Dividend payable (45000*4) | $180,000.00 | ||
(Being dividend declared) | |||
28-Oct | Dividend Payable Dr | $180,000.00 | |
To Cash | $180,000.00 | ||
(Being dividend paid) | |||
31-Dec | Income summary Dr | $428,000.00 | |
To Retained Earnings | $428,000.00 | ||
(Being income transferred to retained earnings) |
Solution 2:
Kohler Corporation - Statement of Retained Earnings on 31.12.2016 | |
Particulars | Amount |
Opening balance | $430,000.00 |
Add: Income for 2016 | $428,000.00 |
$858,000.00 | |
Less: Dividend Paid (40500*$5 + 45000*$4) | $342,000.00 |
Less: Loss on sale of treasury stock | $1,684.00 |
Ending balance of Retained Earnings | $514,316.00 |
Solution 3:
Stockholder Equity Section of Balance sheet | |
Kohler Corporation at December 31, 2016 | |
Particulars | Amount |
Stockholders Equity: | |
Common
stock—$25 par value, 100,000 shares authorized, 45,000 shares issued and outstanding |
$1,125,000.00 |
Paid-in capital in excess of par value, common stock | $60,000.00 |
Total contributed Capital | $1,185,000.00 |
Retained Earnings | $514,316.00 |
Total Stockholder's Equity | $1,699,316.00 |
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Conmon stock-$25 par...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$20 par value, 1ee,eee shares authorized, 40,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ see,eee 60,eee 430, eee Total stockholders' equity $1,290,e0e In year 2017, the following transactions affected its stockholders' equity accounts Jan. 1 Purchased 4,0ee shares of its own stock at $20 cash per share. 5 Directors declared a $6 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 Common stock-$20 par value,, 100, ee0 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, 0ee ве, е00 460, 000 $1,540, 000 In year 2017, the following transactions affected its stockholders' equity accounts 1 Purchased 5,000 shares of its own stock at $20 cash per share 5 Directors declared a $2 per share...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
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...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016 $ Common stock-$15 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 750,000 80,000 480,000 1,230,000 $ In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,100,000 70,000 400, 000 $1,570,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $20 cash per share Jan 5 Directors declared a $6 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par value, 100,000 shares authorized 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 70,000 430,000 $1,400,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. 1 Purchased 4,000 shares of its own stock at $25 cash per share. 5 Directors declared a $4 per...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$15 par value, 188,800 shares authorized, 50, eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 70, eee 438,888 $1,250,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 6,800 shares of its own stock at $2e cash per share. Jan. 5 Directors declared a $6 per share cash...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. 1 Common stock-$25 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,125,000 70,000 400,000 $1,595,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 180,0e0 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 675,000 80,000 400,000 $1,155,000 Total stockholders' equity ed During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at $15 cash per share. 5 Directors declared a $4 per share cash dividend payable on February...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. Common stock-$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 825,000 70,000 370,000 $1,265,000 Total stockholders' equity During 2019, the following transactions affected its stockholders' equity accounts. 2 Purchased 4,000 shares of its own stock at $25 cash per share. 5 Directors declared a $6 per share cash dividend payable on February 28 to...