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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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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