Podcast
Questions and Answers
What is the total amount of authorized common stock?
What is the total amount of authorized common stock?
What is the par value of the common stock?
What is the par value of the common stock?
What is the total amount of paid-in capital in excess of par value, common stock as of December 31, 2018?
What is the total amount of paid-in capital in excess of par value, common stock as of December 31, 2018?
What is the total amount of treasury shares purchased by the company on January 2, 2019?
What is the total amount of treasury shares purchased by the company on January 2, 2019?
Signup and view all the answers
What is the total amount of dividend declared on January 5, 2019 per share?
What is the total amount of dividend declared on January 5, 2019 per share?
Signup and view all the answers
What is the total amount of credit balance in the Income Summary account closed to Retained Earnings on December 31, 2019?
What is the total amount of credit balance in the Income Summary account closed to Retained Earnings on December 31, 2019?
Signup and view all the answers
Study Notes
Stockholders' Equity at December 31, 2018
- Common stock: $15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding
- Paid-in capital in excess of par value, common stock: $70,000
- Retained earnings: $370,000
- Total stockholders' equity: $1,040,000
Transactions Affecting Stockholders' Equity in 2019
- January 2: Purchased 5,500 shares of treasury stock at $20 cash per share
- January 5: Declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record
- February 28: Paid the dividend declared on January 5
- July 6: Sold 2,063 treasury shares at $24 cash per share
- August 22: Sold 3,437 treasury shares at $17 cash per share
- September 5: Declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record
- October 28: Paid the dividend declared on September 5
- December 31: Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Kohler Corporation's stockholders' equity transactions, including common stock, paid-in capital, and retained earnings. The company purchases its own stock and declares dividends.
