The balance sheet of Goldstein Management Consulting, Inc., at December 31, 2011, reported the following stockholders equity:

Question:

The of Goldstein Management Consulting, Inc., at December 31, 2011, reported the following stockholders€™ equity:

Paid-in capital: Common stock, $10 par, 200,000 sharcs authorized, 15,000 shares issucd ... Paid-in capital in excess of

During 2012, Goldstein completed the following selected transactions:
Feb 6 Distributed a 5% stock dividend on the common stock. The market value of Goldstein€™s stock was $21 per share.
Jul 29 Purchased 2,300 shares of treasury stock at $21 per share.
Nov 27 Declared a $0.10 per share cash dividend on the 13,450 shares of common stock outstanding. The date of record is December 17, 2012, and the payment date is January 7, 2013.
Dec 31 Closed the $81,000 net income to Retained earnings.
Requirements
1. Record the transactions in the general journal.
2. Prepare a retained earnings statement for the year ended December 31, 2012.
3. Prepare the stockholders€™ equity section of the balance sheet at December 31,2012.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...