Homework Answers
| 1 | Date | Account Tittle and Explanation | Debit | Credit | |
| Jan-01 | Treasury Stock, Common (5000 X $20) | $ 1,00,000 | |||
| Cash | $ 1,00,000 | ||||
| Jan-05 | Retained earnings (50,000 X $6 per share) | $ 3,00,000 | |||
| Common dividend payable | $ 3,00,000 | ||||
| (55,000 - 5,000 = 50,000 shares) | |||||
| Feb-28 | Common dividend payable | $ 3,00,000 | |||
| Cash | $ 3,00,000 | ||||
| Jul-06 | Cash (1875 X $24) | $ 45,000 | |||
| Treasury Stock, Common (1875 X $20) | $ 37,500 | ||||
| Paid in capital, Treasury Stock | $ 7,500 | ||||
| Aug-22 | Cash (3125 X $17) | $ 53,125 | |||
| Paid in capital, Treasury Stock | $ 7,500 | ||||
| Retained earnings | $ 1,875 | ||||
| Treasury Stock, Common (3125 X $20) | $ 62,500 | ||||
| Note: Paid in capital, Treasury Stock can never had the ending balance | |||||
| Sep-05 | Retained earnings (55000 shares X $6) | $ 3,30,000 | |||
| Common dividend payable | $ 3,30,000 | ||||
| 5000 shares - (1875 shares + 3125 shares) = 0 shares | |||||
| 55,000 shares - 0 shares = 55000 shares | |||||
| Oct-28 | Common dividend payable | $ 3,30,000 | |||
| Cash | $ 3,30,000 | ||||
| Dec-31 | Income Summary | $ 3,68,000 | |||
| Retained Earnings | $ 3,68,000 | ||||
| 2 | Kohler corporation | ||||
| Statement of Retained Earnings | |||||
| For the year ended December 31, 2017 | |||||
| Retained Earnings, December 31, 2016 | $ 4,00,000 | ||||
| Add: | Net Income | $ 3,68,000 | |||
| $ 7,68,000 | |||||
| Less: | Cash dividend declared (Jan 5 + Sep 5) | $ 6,30,000 | |||
| Less: | Treasury stock reinsurance (Aug 22) | $ 1,875 | |||
| Retained Earnings, December 31, 2017 | $ 1,36,125 | ||||
| 3 | Kohler corporation | ||||
| Statement of Stockholder's equity | |||||
| For the year ended December 31, 2017 | |||||
| Common stock - $20 par value 1,00,000 shares authorizes, 55,000 shares issued and outstanding | $ 11,00,000 | (Given) | |||
| Add: | Paid in capital in excess of par value | $ 70,000 | (Given) | ||
| Total contributed capital | $ 11,70,000 | ||||
| Add: | Retained earnings | $ 1,36,125 | (calculated in part 2) | ||
| Total Stockholder's equity | $ 13,06,125 | ||||
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Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$20 par...
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 $ 1,100,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 430,000 Total stockholders' equity $ 1,600,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $20 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, 2016: Common stock—$20 par...
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 $ 1,100,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 370,000 Total stockholders' equity $ 1,550,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,000 shares of its own stock at $15 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—$20 par...
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, 2016: Common stock—$20 par...
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, 2016: Common stock—$15 par...
Kohler Corporation reports the following components of
stockholders’ equity on December 31, 2016:
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
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 $4 per share cash dividend...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$20 par...
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 $ 900,000 60,000 400,000 $1,360,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,500 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 on December 31, 2016: Common stock—$25 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 1,000,000 Paid-in capital in excess of par value, common stock 80,000 Retained earnings 460,000 Total stockholders' equity $ 1,540,000 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 $2 per share cash dividend...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$15 par...
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 on December 31, 2016: Common stock—$10 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$10 par value, 100,000 shares authorized, 60,000 shares issued and outstanding $600,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 400,000 Total stockholders' equity $1,060,000 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 payable on...
Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$15 par...
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, 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, 2016:
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
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 $4 per share cash dividend...
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 $ 900,000 60,000 400,000 $1,360,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,500 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 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...
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