Alexander Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par...
Alexander Corporation reports the following components of
stockholders’ equity on December 31, 2016:
| Common stock—$25 par value, 60,000 shares authorized, 39,000 shares issued and outstanding |
$ | 975,000 | |
| Paid-in capital in excess of par value, common stock | 78,000 | ||
| Retained earnings | 371,000 | ||
| Total stockholders’ equity | $ | 1,424,000 | |
In year 2017, the following transactions affected its stockholders’
equity accounts.
| Jan. | 2 | Purchased 3,900 shares of its own stock at $25 cash per share. | ||
| Jan. | 7 | Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. | ||
| Feb. | 28 | Paid the dividend declared on January 7. | ||
| July | 9 | Sold 1,560 of its treasury shares at $30 cash per share. | ||
| Aug. | 27 | Sold 1,950 of its treasury shares at $20 cash per share. | ||
| Sept. | 9 | Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. | ||
| Oct. | 22 | Paid the dividend declared on September 9. | ||
| Dec. | 31 | Closed the $61,000 credit balance (from net income) in the Income Summary account to Retained Earnings. |
Required:
1. Prepare journal entries to record each of these
transactions for 2017.
2. Prepare a statement of retained earnings for
the year ended December 31, 2017.
3. Prepare the stockholders’ equity section of the
company’s balance sheet as of December 31, 2017.
Homework Answers
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Alexander Corporation reports the following components of
stockholders’ equity on December 31, 2016:
Common stock—$25 par...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,125,000 90,000 392,000 $1,607,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 4,500 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2016: Common stock—$25 par value, 70,000 shares authorized, 42,000 shares issued and outstanding $ 1,050,000 Paid-in capital in excess of par value, common stock 84,000 Retained earnings 382,000 Total stockholders’ equity $ 1,516,000 In year 2017, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 4,200 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$25 par...
Alexander Corporation reports the following components of stockholders’ equity on December 31, 2017. Common stock—$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding $ 1,125,000 Paid-in capital in excess of par value, common stock 90,000 Retained earnings 392,000 Total stockholders’ equity $ 1,607,000 In year 2018, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,880 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 66, 35e, eee $1,241,800 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,300 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 78, 000 shares authorized, $1, 125, 69s 99, 800 392,000 45, 000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1, 607,000e in year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4, 580 shares of its own stock at $25 cash per share ors declared a 1.s0 per...
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...
Alexander Corporation reports the following components of stockholders' equity at December 31, 2018, Common stock-$25 par...
Alexander Corporation reports the following components of stockholders' equity at December 31, 2018, Common stock-$25 par value, 60,000 shares authorized, 40,e00 shares issued and outstanding Paid-in capital in excess of par value, comnon stock Retained earnings Total stockholders equity $1,eee/088 ৪৪, ৪88 375,000 $1,455,eee During the year, the following transactions affected its stockholders' equity accounts. Dan. /2 Púrchased 4,eee shares of its own stock at $25 cash per share. 7 Directors declared a $1.5e 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, 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, 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...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 70,000 shares authorized, 45,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,125,000 90,000 392,000 $1,607,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 2 Purchased 4,500 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 50,880 shares authorized, 33,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 825,000 66, 35e, eee $1,241,800 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 3,300 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend...
Alexander Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$25 par value, 78, 000 shares authorized, $1, 125, 69s 99, 800 392,000 45, 000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1, 607,000e in year 2017, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 4, 580 shares of its own stock at $25 cash per share ors declared a 1.s0 per...
Alexander Corporation reports the following components of stockholders' equity at December 31, 2018, Common stock-$25 par value, 60,000 shares authorized, 40,e00 shares issued and outstanding Paid-in capital in excess of par value, comnon stock Retained earnings Total stockholders equity $1,eee/088 ৪৪, ৪88 375,000 $1,455,eee During the year, the following transactions affected its stockholders' equity accounts. Dan. /2 Púrchased 4,eee shares of its own stock at $25 cash per share. 7 Directors declared a $1.5e 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...
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