Kohler Corporation reports the following components of
stockholders’ equity on December 31, 2017.
Common stock—$15 par value, 100,000 shares authorized, |
$ |
750,000 |
Paid-in capital in excess of par value, common stock |
80,000 |
|
Retained earnings |
400,000 |
|
Total stockholders' equity |
$ |
1,230,000 |
In year 2018, the following transactions affected its stockholders’
equity accounts.
Jan. |
1 |
Purchased 6,000 shares of its own stock at $25 cash per share. |
||
Jan. |
5 |
Directors declared a $2 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 2,250 of its treasury shares at $29 cash per share. |
||
Aug. |
22 |
Sold 3,750 of its treasury shares at $22 cash per share. |
||
Sept. |
5 |
Directors declared a $2 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. |
Record the reissue of 3,750 shares of the treasury stock for $22 cash per share.
|
Record the declaration of a cash dividend of $2 per share.
|
Record the payment of the cash dividend.
|
Record the entry to close the income summary account having a credit balance of $408,000.
|
Date | General Journal | Debit | Credit | |
Aug 22 | Cash | $82,500 | (3,750 x $22) | |
Additional Paid-in Capital - Treasury Stock | $9,000 | (2,250 x $4) | ||
Retained Earnings | $2,250 | Balance | ||
Treasury Stock | $93,750 | (3,750 x $25) | ||
(To record issue of treasury stock) | ||||
Sep 05 | Retained Earnings | $100,000 | (50,000 x $2) | |
Dividend Payable | $100,000 | |||
(To record declaration of a cash dividend) | ||||
Oct 28 | Dividend Payable | $100,000 | ||
Cash | $100,000 | |||
(To record the payment of the cash dividend.) | ||||
Dec 31 | Income summary | $408,000 | ||
Retained Earnings | $408,000 | |||
(To record close the income summary account) | ||||
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,230,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
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 $ 825,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 400,000 Total stockholders' equity $ 1,295,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $25 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, 2017. Common stock—$15 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 750,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,230,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
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 on December 31, 2017. Common stock—$20 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 1,100,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 1,640,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $4 per share cash dividend...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 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 $ 675, eee 70, eee 370 eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54 per...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$15 par value, 100, 200 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 675, eee 7e, eee 37e eee $1,115, eee In year 2018, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,5ee shares of its own stock at $25 cash per share. Jan. 5 Directors declared a 54...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding $ 675,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 430,000 Total stockholders' equity $ 1,185,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$15 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 $ 600.000 80,000 370,000 $1,050,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $15 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, 2017. Common stock—$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 600,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 400,000 Total stockholders' equity $ 1,080,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $2 per share cash dividend...