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Chapter 11 Homework 15 Alexander Corporation reports the following components of stockholders' equity on December 31, 2017 points Common stock-$25 par value, 70,000 shares authorized, 41,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,025,000 82,000 378,000 $1,485,000 eBook In year 2018, the following transactions affected its stockholders' equity accounts. Hint Jan. Jan. Feb. July Aug. Sept. Oct. Dec. 2 Purchased 4,180 shares of its own stock at $25 cash per share. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7. 9 Sold 1,640 of its treasury shares at $30 cash per share. 27 Sold 2,050 of its treasury shares at $20 cash per share. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. 22 Paid the dividend declared on September 9. 31 Closed the $63,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Print References Required: 1. Prepare journal entries to record each of these transactions for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. 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 for 2018. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the purchase 4,100 shares of its own common stock for $25 cash per share. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare a statement of retained earnings for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2018 Required 1 Required 3 > Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2018 Total stockholders' equity

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