Alexander Corporation reports the following components of stockholders' equity on December 31, 2016:
Common stock-$25 par value, 50,000 shares authorized,
30,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$750,000
50,000
340,000
$1,140,000
In year 2017, the following transactions affected its stockholders' equity accounts.
Jan.
2
7
Jan.
Feb. 28
July 9
Aug. 27
Sep. 9
Oct. 22
Dec. 31
Purchased 3,000 shares of its own stock at $25 cash per share.
Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record.
Paid the dividend declared on January 7.
Sold 1,200 of its treasury shares at $30 cash per share.
Sold 1,500 of its treasury shares at $20 cash per share.
Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record.
Paid the dividend declared on September 9.
Closed the $52,000 credit balance (from net income) in the Income Summary account to Retained Earnings.
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