Kohler corporation reports the following components of
Question # 00767279
Posted By:
Updated on: 06/25/2020 08:26 AM Due on: 07/01/2020
Kohler Corporation reports the following components of stockholders' equity on December 31, 2013:
|
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 | 60,000 | |
| Retained earnings | 400,000 | |
| Total stockholders' equity | $ | 1,560,000 |
| In year 2014, the following transactions affected its stockholders' equity accounts. | |||
| Jan. | 1 | Purchased 4,500 shares of its own stock at $20 cash per share. | |
| Jan. | 5 |
Directors declared a $6 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. |
|
| Feb. | 28 | Paid the dividend declared on January 5. | |
| July | 6 | Sold 1,688 of its treasury shares at $24 cash per share. | |
| Aug. | 22 | Sold 2,812 of its treasury shares at $17 cash per share. | |
| Sept. | 5 |
Directors declared a $6 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 Summary account to Retained Earnings. |
|
-
Rating:
/5
