Solution 1:
Kohler Corporation - Journal Entries | |||
Date | Particulars | Debit | Credit |
1-Jan | Treasury Stock A/c Dr | $90,000.00 | |
To Cash | $90,000.00 | ||
(Being 4500 shares of treasury stock purchased at $20 per share) | |||
5-Jan | Retained Earnings Dr | $202,000.00 | |
To Dividend payable [(55000 - 4500)*4] | $202,000.00 | ||
(Being dividend declared) | |||
28-Feb | Dividend Payable Dr | $202,000.00 | |
To Cash | $202,000.00 | ||
(Being dividend paid) | |||
6-Jul | Cash A/c Dr (1688*24) | $40,512.00 | |
To Treasury Stock (1688*20) | $33,760.00 | ||
To Additional Paid in Capital (1688*$4) | $6,752.00 | ||
(Being 1688 shares of treasury stock sold at $24 per share) | |||
22-Aug | Cash A/c Dr (2812*17) | $47,804.00 | |
Additional Paid in Capital A/c Dr | $6,752.00 | ||
Retained Earnings Dr (Balancing figure) | $1,684.00 | ||
To Treasury Stock (2812*$20) | $56,240.00 | ||
(Being 2812 shares of treasury stock sold at $22 per share) | |||
5-Sep | Retained Earnings Dr | $220,000.00 | |
To Dividend payable (55000*4) | $220,000.00 | ||
(Being dividend declared) | |||
28-Oct | Dividend Payable Dr | $220,000.00 | |
To Cash | $220,000.00 | ||
(Being dividend paid) | |||
31-Dec | Income summary Dr | $368,000.00 | |
To Retained Earnings | $368,000.00 | ||
(Being income transferred to retained earnings) |
Solution 2:
Kohler Corporation - Statement of Retained Earnings on 31.12.2018 | |
Particulars | Amount |
Opening balance | $400,000.00 |
Add: Income for 2018 | $368,000.00 |
$768,000.00 | |
Less: Dividend Paid (50500*$4 + 55000*$4) | $422,000.00 |
Less: Loss on sale of treasury stock | $1,684.00 |
Ending balance of Retained Earnings | $344,316.00 |
Solution 3:
Stockholder Equity Section of Balance sheet | |
Kohler Corporation at December 31, 2018 | |
Particulars | Amount |
Stockholders Equity: | |
Common
stock—$25 par value, 100,000 shares authorized, 55,000 shares issued and outstanding |
$1,375,000.00 |
Paid-in capital in excess of par value, common stock | $70,000.00 |
Total contributed Capital | $1,445,000.00 |
Retained Earnings | $344,316.00 |
Total Stockholder's Equity | $1,789,316.00 |
Kohler Corporation reports the following components of stockholders' equity on December 31, 2017 Common stock-$25...
Kohler Corporation reports the following components of stockholders' equity at December 31, 2018 3.34 points Common stock-$10 par value, 1ee, eee shares authorized, 5e,eee shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ See, ce 89, eee 43e, eee $1,818,eee BOOK During 2019, the following transactions affected its stockholders' equity accounts. Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 4,5ee shares of its own stock at $25 cash...
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...
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—$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 at December 31, 2018. 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 60,000 430,000 $1,615,000 During 2019, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $15 cash per share. Jan. 5 Directors declared a $6 per share cash dividend payable on February...
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, 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 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, 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...