kohler Coperation reports the following components of stockholders's equity on December,31 2013: common stock-$10 par value, 100,000
Question:
kohler Coperation reports the following components of stockholders's equity on December,31 2013:
common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding | 400,000 |
paid in capital in excess of par value, common stock | 60,000 |
Retained earnings | 270,000 |
Total Stockholders' equity | 730,000 |
In year 2014, the following transactions affected its stockholders’ equity accounts.
Jan. 01 Purchased 4,000 shares of its own stock at $20 cash per share.
Jan. 05 Directors declare $2 per share per cash dividend payable on Feb. 28 to the feb. 5 stockholders of record.
Feb. 28 Paid the dividend declared on Jan 5.
July. 06 Sold 1,500 of its treasury shares at $24 cash per share.
Aug. 22 Sold 2,500 of its treasury shares at $17 cash per share.
Sept. 05 Directors declared $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31 Closed the 388,000 credit balance(from net Income) in the Income Statement account to Retained Earnings.
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kohler Coperation reports the following components of stockholders's equity on December,31 2013:
common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding | 400,000 |
paid in capital in excess of par value, common stock | 60,000 |
Retained earnings | 270,000 |
Total Stockholders' equity | 730,000 |
In year 2014, the following transactions affected its stockholders’ equity accounts.
Jan. 01 Purchased 4,000 shares of its own stock at $15 cash per share.
Jan. 05 Directors declare $4 per share per cash dividend payable on Feb. 28 to the feb. 5 stockholders of record.
Feb. 28 Paid the dividend declared on Jan 5.
July. 06 Sold 1,500 of its treasury shares at $19 cash per share.
Aug. 22 Sold 2,500 of its treasury shares at $12 cash per share.
Sept. 05 Directors declared $4 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31 Closed the 388,000 credit balance(from net Income) in the Income Statement account to Retained Earnings.
2. Prepare a Statement of retained earnings for the year Ended Dec 31, 2014:
KOHLER CORPORATION |
Statement of Retained Earnings |
For Year Ended December 31, 2014.A |
3. Prepare the stockholders equity section of the company's balance sheet as Dec 31, 2014:
KOHLER CORPORATION | |||||||||
STOCKHOLDERS' EQUITY SECTION OF THE BALANCE SHEET | |||||||||
DECEMBER 31, 2014
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Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala