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Required: 1. Prepare journal entries to record each of these transactions for 2014.
view transaction list view general journal
Journal Entry Worksheet 1 2 3 4 5 6 7 8
*Enter debits before credits
Record the purchase 5,000 shares of its own common stock for $20 cash per share.
Date General Journal Debit Credit Jan. 1
Chapter 13 Corporations http://ezto.mheducation.com/hm.tpx
1 of 3 24-02-2016 15:57
Worksheet Learning Objective: 13-C3 Explain the items reported in retained earnings.
Learning Objective: 13-P3 Record purchases and sales of treasury stock and the retirement of stock.
Difficulty: Hard Learning Objective: 13-P2 Record transactions involving cash dividends, stock dividends, and stock splits.
Check my work
2. Prepare a statement of retained earnings for the year ended December 31, 2014. (Amounts to be deducted should be indicated by a minus sign.)
KOHLER CORPORATION Statement of Retained Earnings
For Year Ended December 31, 2014
Worksheet Learning Objective: 13-C3 Explain the items reported in retained earnings.
Learning Objective: 13-P3 Record purchases and sales of treasury stock and the retirement of stock.
Difficulty: Hard Learning Objective: 13-P2 Record transactions involving cash dividends, stock dividends, and stock splits.
Check my work
3. Prepare the stockholders' equity section of the company’s balance sheet as of December 31, 2014.
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References
References
Chapter 13 Corporations http://ezto.mheducation.com/hm.tpx
2 of 3 24-02-2016 15:57
KOHLER CORPORATION Stockholders' Equity Section of the Balance Sheet
December 31, 2014
Total contributed capital
Total stockholders' equity
Worksheet Learning Objective: 13-C3 Explain the items reported in retained earnings.
Learning Objective: 13-P3 Record purchases and sales of treasury stock and the retirement of stock.
Difficulty: Hard Learning Objective: 13-P2 Record transactions involving cash dividends, stock dividends, and stock splits.
Check my work
eBook & ResourcesReferences
Chapter 13 Corporations http://ezto.mheducation.com/hm.tpx
3 of 3 24-02-2016 15:57
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