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Question: 4 exercise 1318 cash dividends treasury stock and statement of...

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4 Exercise 13-18 Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders equity on December 31, 2016 30 points Conmon stock-$25 par value, 50, 000 shares authorized, 30, 000 shares issued and outst anding s 750, 000 50, 000 340, 003 Pald-In capital in excess of par value, conmon stock eBook Ret aîned earnings Tot al stockholders equity In year 2017, the following transactions affected its stockholders equity accounts an. 7Dfrectors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of 1,140, 00 Hint Ask Print tsan. 2 Purchased 3, 000 shares of its ouwn stock at $25 cash per share. recerd Feb. 28 Paid the dividend declared on 3anuary 7. July 9 Sold 1,200 of its treasury shares at $30 cash per share. Aug. 27 Sold 1,500 of its treasury shares at $20 cash per share. Sept. 9 Dfrectors declared $2 per share cash dividend payable on October 22 to the Septenber 23 stockholders of record. Oct. 22 Paid the dividend declared on Septenber 9. Dec. 31 Closed the 152,000 credit balance (from net incose) in the Incose Sunmary account to Ret ained Earnings. Required 1. Prepare journal entries to record each of these transactions for 2017 2 Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders equity section of the companys balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below < Prey Next
4 Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 30 points View transaction list eBook Hnt Ak Journal entry worksheet Record the purchase 3,000 shares of its own common stock for $25 cash per share Peference Note: Enter debits before credits Date Gener al Journal Jan 02 Treasury stock, commm ash Record entry Clear entry View general journel < Prev 4of41
Chapter 13 HWI 4 Required 1 Required 2 Required 3 30 poits Prepare a statement of retained earnings for the year ended December 31, 2017, (Amounts to be deducted should be ndicated by a minus sign.) Statement of Retaimed Earhings For Year Ended December 31, 2017 Book Hint Ask Piing C Required 1 Required 3 >
4 Complete this question by entering your answers in the tabs below. 30 points Required 1 Required 2 Required 3 2017. (Amounts Prepare the stockholders equity section of the companys balance sheet as of December 31, deducted should be indicated by a minus sign.) eBook Hint Ask Print Poference ALEXANDER CORPORATION Stockholders Equity Section of the Balance Sheet December 31, 2017 Total stockholders equity Required 2
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