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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock. Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 October 31 November 5 December 1 December 31 General Journal Retained Earnings. Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance $ $ $ $ $360,000 110,000 380,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 360,000 110,000 380,000 850,000 $ Debit 50,000 50,000 75,000 0 $ 36,000 250,000 October 2 October 25 October 31 Credit 50,000 50,000 36,000 39,000 36,000 0 $ 250,000 November 5 0 $ December 1 0 $ December 31 0 $ 0

At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock. Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 October 31 November 5 December 1 December 31 General Journal Retained Earnings. Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance $ $ $ $ $360,000 110,000 380,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 360,000 110,000 380,000 850,000 $ Debit 50,000 50,000 75,000 0 $ 36,000 250,000 October 2 October 25 October 31 Credit 50,000 50,000 36,000 39,000 36,000 0 $ 250,000 November 5 0 $ December 1 0 $ December 31 0 $ 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 ctober 31 November 5 December 1 December 31 General Journal Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance $ Required: 2. Complete the following table showing the equity account balances at each indicated date. $ $ $ $360,000 110,000 380,000 360,000 October 2 110,000 380,000 850,000 $ Debit 50,000 50,000 75,000 36,000 0 $ 250,000 Credit 50,000 50,000 36,000 39,000 36,000 October 25 October 31 0 $ 250,000 0 November 5 GA 0 December 1 December 31 0 $ 0
Transcribed Image Text:At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. Date October 2 October 25 ctober 31 November 5 December 1 December 31 General Journal Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance $ Required: 2. Complete the following table showing the equity account balances at each indicated date. $ $ $ $360,000 110,000 380,000 360,000 October 2 110,000 380,000 850,000 $ Debit 50,000 50,000 75,000 36,000 0 $ 250,000 Credit 50,000 50,000 36,000 39,000 36,000 October 25 October 31 0 $ 250,000 0 November 5 GA 0 December 1 December 31 0 $ 0
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