(Solved): Fields Corporation reports the following components of stockholders' equity on January 1 . Comnon s ...

Fields Corporation reports the following components of stockholders' equity on January 1 . Comnon stock-$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings During the year, the following transactions affected Its stockholders' equity accounts. January 2 Purchased 6,000 shares of its own stock at

cash per share. January 5 Directors declared a

per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend deciared on January 5 . July 6 Sold 3 , 000 of its treasury shares at

cash per share. August 22 Sold 3, 000 of its treasury shares at

cash per share. September 5 Directors declared a

per share cash dividend payable on october 28 to the Septenber 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the

credit balance (from net incone) in the Income Sunnary account to Retained Earnings. Answer is not complete. Requirement General General Trial Balance Statement of Stockholders Impact on Journal Ledger RE Equity Equity During the year, the following transactions affected its stockholders'■ equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box.