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Help GL1101 - Based on Problem 11-2A LO C3, P2, P3 Myconos Company reports the following components of stockholders' equity on December 31, 2016: eBook Ask Print 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total $500,000 5,000 $985,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of Feb. 28 Paid the dividend declared on January 5. record Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the Septeaber 25 stockholders of Oct. 28 Paid the dividend declared on September 5. Dec. 31 closed the $238,000 credit balance (from net incone) in the Income Sumnary Journal entry worksheet Sold 1,900 of its treasury shares at $27 cash per share Clear entry Juurla cuuity In year 2017, 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. transaction list Journal entry worksheet 2 3 5 8 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Note: Enter debits before credits. Date Account Title Debit Credit Sep 05 Record entry Clear entry In year 2017, the following no Journal entry worksheet 4. Oct 28 Clear entry Prev 1 of 1 Next uur Id Leuyer In year 2017, the following transactions affected its stockholders equity accounts. Prepare the necessary journal entries. If ho journal entry is required, select "No journal entry required in the first input box. View transaction list Journal entry worksheet 2 3 Closed the $238,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Clear entry View general journal

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