Pearl Company had the following stockholders' equity as of January 1, 2020. Common stock, $ 5 par value, 21,100 shares issued $ 105,500 Paid-in capital in excess of par-common stock 304,000 Retained earnings 317,000 Total stockholders' equity $726,500 During 2020, the following transactions occurred. Feb. 1 Pearl repurchased 2,020 shares of treasury stock at a price of $ 21 per share. Mar. 1 740 shares of treasury stock repurchased above were reissued at $ 19 per share. Mar. 18 520 shares of treasury stock repurchased above were reissued at $ 14 per share. Apr. 22 550 shares of treasury stock repurchased above were reissued at $ 23 per share.

On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts.          Common stock, $1 par, 250,000 shares issued $ 250,000   Paid-in capital—excess of par, common   500,000   Paid-in capital—excess of par, preferred   100,000   Preferred stock, $100 par, 10,000 shares outstanding   1,000,000   Retained earnings   2,000,000   Treasury stock, at cost, 5,000 shares   25,000      During 2021, Fascom Inc. had several transactions relating to common stock.  January   15:   Declared a property dividend of 100,000 shares of Slowdown Company (book value $10 per share, fair value $9 per share). February   17:   Distributed the property dividend. April   10:   A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Fascom chose to reduce Paid-in capital—excess of par.) The fair value of the stock was $4 on this date. July   18:   Declared and distributed a 3%…

Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018.    Common stock—$25 par value, 100,000 shares authorized,45,000 shares issued and outstanding $ 1,125,000   Paid-in capital in excess of par value, common stock   60,000   Retained earnings   400,000   Total stockholders' equity $ 1,585,000      During 2019, the following transactions affected its stockholders’ equity accounts.  Jan.   2   Purchased 4,500 shares of its own stock at $15 cash per share. Jan.   5   Directors declared a $6 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb.   28   Paid the dividend declared on January 5. July   6   Sold 1,688 of its treasury shares at $19 cash per share. Aug.   22   Sold 2,812 of its treasury shares at $12 cash per share. Sept.   5   Directors declared a $6 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct.   28   Paid the…

At the end of 2019, Haley Corporation had the following equity accounts and balances: Common stock, $10 par $800,000 Additional paid-in capital-common stock 200,000 Retained earnings 279,000 During 2020, Haley engaged in the following transactions involving its equity accounts: a. Sold 5,000 shares of common stock for $19 per share. b. Sold 1,200 shares of 12%, $50 par preferred stock at $75 per share. c. Declared and paid cash dividends of $22,000. d. Repurchased 1,000 shares of treasury stock (common) for $24 per share. e. Sold 300 of the treasury shares for $26 per share. Required: 1. Prepare the journal entries for Transactions a through e. 2. Assume that 2020 net income was $123,700. Prepare a statement of stockholders' equity at December 31, 2020.