Answer:
Explanation:
 1. Jan 1
    Paid Up Capital   (6,000*15)      Dr.$     90,000
    Paid in Capital in excess of par value  Dr.$30,000
    Treasury stock (6,000*20)     Cr.$   120,000 
Jan 5.   Dividend   (55,000-6,0000=49,000*2)   Dr.$98,000
             Dividend Payable                                             Cr.$98,000
Feb 28.  Dividend Payable   Dr.$98,000
                Bank                      Cr.$98,000
July 6    Bank (2,250*24)     Dr.$54,000
              Paid up capital (2,250*15)   Cr.$33,750
              Paid in capital in excess of par (2250*9) Cr.$20,250  
Aug 22   Cash (3,750*17)    Dr.$63,750
               Paid up capital (3,750*15)  Cr.$ 56,250
               Paid in capital in excess of par Cr.$7,500
Sept 5.   Dividend (49,000+2,250+3,750)*2  Dr.$110,000
               Divided Payable             Cr.$110,000
Oct 28.  Dividend Payable    Dr.$110,000
              Cash                         Cr.$110,000
Dec 31   Income Summary   Account   Dr.$428,000
              Retained Earnings                   cr.$428,000
2.Statement of retained Earnings 
  Retained Earnings at beginning          $460,000
Add; Net income for the year                  $428,000
Less: Dividends paid(98,000+110,000)  ($208,000)
Retained earnings as at December 31,2017 $680,000      
3. Stockholders' Equity  Section of Balance Sheet   
Retained earnings                        $680,000
Paid Up Capital Outstanding
(825,000-90,000+33,750+56,250) $915,000
Paid in capital in excess of par 
(70,000-30,000+20250+7500)      $67,750   
Total stockholders' equity            $1,662,750