similar format and ill be sure to thumbs up thank you in
advance
PART 1
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GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Edmunds Company reports the following components of stockholders' equity on January 1 Common stock-$1e par value, 118,000 shares authorized, 48, eee shares issued and outstanding $ 400, eee Paid-in capital in excess of par value, common stock 60,000 Retained earnings 330,888 Total stockholders' equity $ 790, eee During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares of its own stock at $23 cash per share. January 5 Directors 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 2,000 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. september 5 Directors 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 $380,500 credit balance (from net income) in the Income Summary account to Retained Earnings. General General Requirement Trial Balance Statement of Stockholders Impact on Journal Ledger RE Equity Equity Prepare the Statement of Retained Earnings for Edmunds Corporation for the year ended December 31. EDMUNDS CORPORATION Statement of Retained Earnings For Year Ended December 31 < Trial Balance Stockholders Equity >
GL 1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Edmunds Company reports the following components of stockholders' equity on January 1. Common stock-$1e par value, 118,880 shares authorized, 48, eee shares issued and outstanding $ 400, eee Paid-in capital in excess of par value, common stock 60,888 Retained earnings 330,000 Total stockholders' equity $ 790, eee During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares of its own stock at $23 cash per share. January 5 Directors 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 2,000 of its treasury shares at $27 cash per share. August 22 sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors 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 $380,500 credit balance (from net income) in the Income Summary account to Retained Earnings. RE General General Requirement Trial Balance Statement of Stockholders Impact on Journal Ledger Equity Equity Prepare the stockholders' equity section of Edmunds Corporation's balance sheet as of December 31. Dates: January 01 EDMUNDS CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 to: January 01 Total contributed capital Total stockholders equity < Statement of RE Impact on Equity >
GL1101 (Algo) - Based on Problem 11-2A LO C3, P2, P3 Edmunds Company reports the following components of stockholders' equity on January 1. Common stock-$10 par value, 118,880 shares authorized, 40, eee shares issued and outstanding $ 480,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 338,888 Total stockholders' equity $ 790,000 During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares of its own stock at $23 cash per share. January 5 Directors 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 2,000 of its treasury shares at $27 cash per share. August 22 sold 2,000 of its treasury shares at $19 cash per share. september 5 Directors 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 $380,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Dates: January 01 to: January 01 Impact on equity Total Stockholders' Equity - January 1 January 2) Purchased 4,000 shares of its own stock at $23 cash per share. January 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record February 28) Paid the dividend declared on January 5. July 6) Sold 2,000 of its treasury shares at $27 cash per share August 22) Sold 2,000 of its treasury shares at 519 cash per share. September 5) Directors declared a S2 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 $380,500 credit balance (from net income) in the Income Summary account to Retained Earnings.