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Kohler Corporation reports the following components of stockholders equity on December 31, 2016: Common stock-$20 par value,
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Kohler Corporation
Date General,Journal Debit Credit
01-Jan Treasury Stock-Common $        82,500.00
     To Cash $     82,500.00
( Amount of purchased of 5500 own stock @$15 per share)
05-Jan Retained Earnings(45000-5500)*$4 $    1,58,000.00
    To Dividend distributable $ 1,58,000.00
( Amount of dividend declared
28-Feb Dividend Distributable $    1,58,000.00
     To Cash $ 1,58,000.00
( Amount of dividend paid)
06-Jul Cash(2063*$19) $        39,197.00
    To Treasury Stock(2063*$15) $     30,945.00
    To Paid in capital excess of par(2063*$4) $       8,252.00
( Amount of sale of 2063 treasury stock @$19 per share)
22-Aug Cash(3437*$12) $        41,244.00
Paid in capital,Treasury stock $          8,252.00
Retained Earnings($51555-41244-8252) $          2,059.00
    To Treasury Stock(3437*$15) $     51,555.00
( Amount of sale of 3427 Treasury stock @$12)
05-Sep Retained Earnings(45000*$4) $    1,80,000.00
   To Dividend Distributable $ 1,80,000.00
( Amount of dividend declared on 45000 shares @$4 per share)
28-Oct Dividend distributable $    1,80,000.00
    To Cash $ 1,80,000.00
( Amount of dividend paid)
31st Dec Income summary $    4,08,000.00
    To Retained Earnings $ 4,08,000.00
( Amount of retained earnings transferred to Income summary account)
2) Kohler Corporation
Statement of Retained Earnings
For the year ended December 31st,2017
Beginning Retained Earnings $    4,00,000.00
Add: Net Income $    4,08,000.00
$    8,08,000.00
Less: Cash Dividend($158000+180000) $ -3,38,000.00
Less: Re issuance of Treasury stock $        -2,059.00
Ending Retained Earnings $    4,67,941.00
Kohler Corporation
Stockholder's Equity section of Balance Sheet
3) For the year ended December 31st,2017
Common Stock (45000 shares @$20 per share) $    9,00,000.00
Paid in capital-excess of par value common stock $        60,000.00
Total contributed capital $    9,60,000.00
Retained Earnings $    4,67,941.00
Total Stockholder's equity $ 14,27,941.00
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