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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $ 420,000 100,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 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, $12 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. $ $ $ 420,000 October 2 100,000 360,000 880,000 $ Debit 80,000 80,000 79,000 0 $ 38,000 290,000 October 25 Credit 80,000 80,000 38,000 41,000 38,000 0 $ 290,000 October 31 November 5 December 1 Dec 0 $ 0 $ 0 S

At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $ 420,000 100,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 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, $12 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. $ $ $ 420,000 October 2 100,000 360,000 880,000 $ Debit 80,000 80,000 79,000 0 $ 38,000 290,000 October 25 Credit 80,000 80,000 38,000 41,000 38,000 0 $ 290,000 October 31 November 5 December 1 Dec 0 $ 0 $ 0 S

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, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $ 420,000 100,000 360,000 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, $12 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. $ $ $ 420,000 Debit 80,000 100,000 360,000 880,000 $ 80,000 79,000 0 $ 38,000 290,000 October 2 October 25 Credit 0 $ 80,000 80,000 38,000 41,000 38,000 290,000 October 31 November 5 December 1 December 31 0 $ 0 $ 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, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $ 420,000 100,000 360,000 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, $12 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. $ $ $ 420,000 Debit 80,000 100,000 360,000 880,000 $ 80,000 79,000 0 $ 38,000 290,000 October 2 October 25 Credit 0 $ 80,000 80,000 38,000 41,000 38,000 290,000 October 31 November 5 December 1 December 31 0 $ 0 $ 0 $ 0
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