Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Ints
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
eBook
$ 675,000
60,000
400,000
$1,135,000
Print
In year 2017, the following transactions affected its stockholders' equity accounts.
References
Jan. 1 Purchased 5,000 shares of its own stock at $25 cash per share.
Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5
record.
Feb. 28 Paid the dividend declared on January 5.
July 6 Sold 1,875 of its treasury shares at $29 cash per share.
Aug. 22 Sold 3, 125 of its treasury shares at $22 cash per share.
Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25
record.
28 Paid the dividend declared on September
Dec. 31 closed the $368,000 credit balance (from net income) in the Income Summary account to Reta
Required:
1. Prepare journal entries to record each of thoro tran
Oct.
I