1)
Date | Account titles and explanation | Debit | Credit |
Jan 1 | Treasury stock (5500*$25) | $137500 | |
Cash | $137500 | ||
(To record treasury stock purchased) | |||
Jan 5 | Retained earnings (45000-5500)*$4 | $158000 | |
Common dividend payable | $158000 | ||
(To record cash dividend declared) | |||
Feb 28 | Common dividend payable | $158000 | |
Cash | $158000 | ||
(To record cash dividend paid) | |||
Jul 6 | Cash (2063*$29) | $59827 | |
Treasury stock (2063*$25) | $51575 | ||
Paid in capital from sale of treasury stock (29-25)*2063 | $8252 | ||
(To record treasury stock sold) | |||
Aug 22 | Cash (3437*$22) | $75614 | |
Paid in capital from sale of treasury stock | $8252 | ||
Retained earnings (85925-75614-8252) | $2059 | ||
Treasury stock (3437*$25) | $85925 | ||
Sep 5 | Retained earnings (45000-5500+2063+3437)*$4 | $180000 | |
Common dividend payable | $180000 | ||
(To record cash dividend declared) | |||
Oct 28 | Common dividend payable | $180000 | |
Cash | $180000 | ||
(To record cash dividend paid) | |||
Dec 31 | Income summary | $428000 | |
Retained earnings | $428000 | ||
(To record credit balance transferred from retained earnings to income summary) | |||
2)
KOHLER CORPORATION | |
Statement of Retained Earnings | |
For the Year Ended December 31, 2018 | |
Retained earnings, Dec 31, 2017 | $370000 |
Add: Net income | 428000 |
798000 | |
Less: Cash dividend (158000+180000) | (338000) |
Less: Issuance of treasury stock | (2059) |
Retained earnings, Dec 31, 2018 | $457941 |
3)
KOHLER CORPORATION | |
Stockholders' Equity | |
For the Year Ended December 31, 2018 | |
Common Stock- $15 par value, 100000 shares authorized, 45000 shares issued and outstanding | 675000 |
Paid in capital in excess of par value, common stock | 70000 |
745000 | |
Retained earnings | 457941 |
Total stockholders' equity | $1202941 |
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, 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 at December 31, 2018. Common stock—$20 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $ 1,000,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 430,000 Total stockholders' equity $ 1,490,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 5,500 shares of its own stock at $15 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, 60,000 shares issued and outstanding $ 1,200,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 430,000 Total stockholders' equity $ 1,710,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $6 per share cash dividend...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$25 par value, 1ee,eee shares authorized, 55,e00 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,375, eee 7e, eee 400,e00 $1,845,000 In year 2018, the following transactions affected its stockholders' equity accounts. 1 Purchased 4,500 shares of its Own stock at $20 cash per share. 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-$20 par value, lee, 800 shares authorized, 55,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,180,800 70,000 370,00 $1,540, eee During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 5,580 shares of its own stock at $15 cash per share. 5 Directors declared a...
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 $ 750,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 430,000 Total stockholders' equity $ 1,240,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 5,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $6 per share cash dividend...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018. 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 80,000 400,000 $1,580, eee During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,500 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 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—$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-$20 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 $ 800,000 80,000 400,000 $1,280,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 5,500 shares of its own stock at $15 cash per share. 5 Directors declared a $4...