Kohler corporation reports the following components of stockholders’ equity on december 31, 2017. common stock—$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding $ 400,000 paid-in capital in excess of par value, common stock 60,000 retained earnings 270,000 total stockholders' equity $ 730,000 in year 2018, the following transactions affected its stockholders’ equity accounts. jan. 1 purchased 4,000 shares of its own stock at $20 cash per share. jan. 5 directors declared a $2 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 1,500 of its treasury shares at $24 cash per share. aug. 22 sold 2,500 of its treasury shares at $17 cash per share. sept. 5 directors declared a $2 per share cash dividend payable on october 28 to the september 25 stockholders of record. oct. 28 paid the dividend declared on september 5. dec. 31 closed the $388,000 credit balance (from net income) in the income summary account to retained earnings.
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.

Symantec corp., located in cupertino, california, is one of the world's largest producers of security and systems management software. the company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following ($ in thousands): current assets: receivables, less allowances of $21,766 in 2009 and $24,089 in 2008 $ 838,010 $ 758,700 a disclosure note accompanying the financial statements reported the following ($ in thousands): year ended 2009 2008 (in thousands) trade accounts receivable, net: receivables $ 859,776 $ 782,789 less: allowance for doubtful accounts (8,938) (8,990) less: reserve for product returns (12,828) (15,099) trade accounts receivable, net: $ 838,010 $ 758,700 assume that the company reported bad debt expense in 2009 of $2,000 and had products returned for credit totaling $3,230 (sales price). net sales for 2009 were $6,174,800 (all numbers in thousands).required: what is the amount of accounts receivable due from customers at the end of 2009 and 2008? what amount of accounts receivable did symentec write off during 2009? what is the amount of symentec’s gross sales for the 2009 fiscal year? assuming that all sales are made on a credit basis, what is the amount of cash symentec collected from customers during the 2009 fiscal year?

Which alternative accounting method allows farmers to record expenses and incomes in the year in which they sell their yield? gaap allows for the method, which permits farmers to subtract the expenses of producing the crop in the year in which they sell the yield and earn the revenue.

Afirm's before-tax cost of debt, rd, is the interest rate that the firm must pay on debt. because interest is tax deductible, the relevant cost of debt used to calculate a firm's wacc is the cost of debt, rd (1 – t). the cost of debt is used in calculating the wacc because we are interested in maximizing the value of the firm's stock, and the stock price depends on cash flows. it is important to emphasize that the cost of debt is the interest rate on debt, not debt because our primary concern with the cost of capital is its use in capital budgeting decisions. the rate at which the firm has borrowed in the past is because we need to know the cost of capital. for these reasons, the on outstanding debt (which reflects current market conditions) is a better measure of the cost of debt than the . the on the company's -term debt is generally used to calculate the cost of debt because more often than not, the capital is being raised to fund -term projects. quantitative problem: 5 years ago, barton industries issued 25-year noncallable, semiannual bonds with a $1,600 face value and a 8% coupon, semiannual payment ($64 payment every 6 months). the bonds currently sell for $845.87. if the firm's marginal tax rate is 40%, what is the firm's after-tax cost of debt? round your answer to 2 decimal places. do not round intermediate calcu