Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year.Common stock-$15 par value, 100,000 shares authorized, 60,000 shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholdera' aquityDuring the current year, the following transactions affected its stockholders' equity accounts.Purchased 4,000 shares of its own stock at $20 cash per share.Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders ofrecord.January 2January 5February 28July 6August 22September 5Paid the dividend declared on January 5.Sold 2,000 of its treasury shares at $24 cash per share.Sold 2,000 of its treasury shares at $16 cash per share.Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders ofrecord.Paid the dividend declared on September 5.October 28December 31 closed the $408,000 credit balance (fron net income) in the Income Summary account to Retained Earnings.Required:1. Prepare journal entries to record each of these transactions.2. Prepare a statement of retained earnings for the current year ended December 31.3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare journal entries to record each of these transactions.View transaction listJournal entry worksheet<Note: Enter debits before credits.DateJanuary 02Record the purchase of 4,000 shares of its own common stock for $20 cashper share.Record antryGeneral Journal6Clear entry78< Required 1Debit$ 900,00070,000460,000$ 1,430,000CreditView general journalRequired 2 >Journal entry worksheet3 4 5<1Record the declaration of a cash dividend of $2 per share.Note: Enter debits before credits.DateJanuary 062Record entry< 1 2 3Note: Enter debits before credits.DateJuly 05General JournalNote: Enter debits before credits.DateSeptember05Clear entry5 6Racord entry<1 2 3 4 5 6Record entryRecord the reissue of 2,000 shares of the treasury stock for $24 cash pershare.General JournalClear entryRecord the declaration of a cash dividend of $2 per share.General JournalClear entry87 87DebitDebit8CreditDebitView general JournalCreditView general journalCreditView general journal<1DateFebruary 28Record the payment of the cash dividend.Jote: Enter debits before credits.2Record entry<DatoAugust 22Note: Enter debits before credits.3Record entry5>< 1 2 3 4Record the reissue of 2,000 shares of the treasury stock for $16 cash pershare.DateOctober 28General JournalNote: Enter debits before credits.Record entryClear entry5General JournalRecord the payment of the cash dividend.Clear entry1 2 3 4 5 66 7 8General JournalClear entry6778DebitDebit8DebitCreditView general journalCreditView general journalCreditView general journal>> <1 2 3 4 5 6Record the entry to close the $408,000 credit balance (from net income) in theIncome Summary account to Retained Earnings.Note: Enter debits before credits.DateDecember31Record entryGeneral Journal7 8Clear entryDebitCreditView general journalComplete this question by entering your answers in the tabs below.Required 1Prepare a statement of retained earnings for the current year ended December 31.Note: Amounts to be deducted should be indicated by a minus sign.Required 2Required 1KOHLER CORPORATIONStatement of Retained EarningsFor Current Year Ended December 31< Required 1Complete this question by entering your answers in the tabs below.Required 2Required 3Total contributed capitalTotal stockholders' equityRequired 3Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year.KOHLER CORPORATIONStockholders' Equity Section of the Balance SheetDecember 31$S< Required 20Required 3 >0Required 3

Stockholder's Equity includes the amount contributed by shareholders issued in the form of common…

Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Commen stock-15 per value. 100.000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, conson stock Retained earnings Total stockholders' equity 2 5 February 28 July August 22 September 5 During the current year, the following transactions affected its stockholders' equity accounts. Purchased shares of its ova stock at $20 cash share. January Directors declared a 52 per share cash dividend payable on February 28 to the February 5 stockholders of Note: Enter debits before credits Date January 05 Paid the dividend declared on January 5. Sold 2.000 of its treasury shares at $24 cash per share. Sold 2,000 of its treasury shares at $16 cash por share. birectors declared a 2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 20 Paid the dividend declared on September 5. December 31 Closed the $408,000 credit balance (fron net income) in the Income Sunnery account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31. 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions. View transaction list Journal entry worksheet Note: Enter cebits before credits Date January 02 Record the purchase of 4,000 shares of its own common stock for $20 cash per share. Record entry General Journal 6 Clear entry 7 8 Required 1 Debit $ 900,000 10,000 460,000 $1,430,000 Credit View general journal Required 2 > Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Record entry 3 Note: Enter debits before credits Date July 00 Record entry General Journal Date September 05 Clear entry Note: Enter debits before credits. Record entry Record the reissue of 2.000 shares of the treasury stock for $24 cash per share. General Journal Clear entry Record the declaration of a cash dividend of $2 per share. 37 <1 2 3 4 5 6 7 8 General Journal 8 Clear entry Debit Debit Credit Debit View general journal Credit View general journal Credit View general journal 2 3 6 Record the payment of the cash dividend. jote: Enter debits before credits. Date February 28 Record entry Note: Enter debits before credits Date August 22 Record entry 5 6 7 8 Note: Enter debits before credits Date October 28 General Journal Record entry Clear entry Record the reissue of 2,000 shares of the treasury stock for $16 cesh per share. Record the payment of the cash dividend. General Journal Clear entry General Journal 6 Clear entry 8 6 Debit Debit 8 Credit View general journal Credit View general journal Debit Credit View general Journal > >