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 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 Retained Earnings Common Dividend Payable General Journal 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. Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity $360,000 90,000 320,000 September 30 Beginning Balance 360,000 0 90,000 320,000 770,000 $ Required: 2. Complete the following table showing the equity account balances at each indicated date. $ $ Debit 60,000 60,000 75,000 October 2 36,000 210,000 Credit 60,000 60,000 36,000 39,000 36,000 0 $ 210,000 October 25 October 31 November 5 December 1 December 31 $ 0 $
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 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 Retained Earnings Common Dividend Payable General Journal 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. Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity $360,000 90,000 320,000 September 30 Beginning Balance 360,000 0 90,000 320,000 770,000 $ Required: 2. Complete the following table showing the equity account balances at each indicated date. $ $ Debit 60,000 60,000 75,000 October 2 36,000 210,000 Credit 60,000 60,000 36,000 39,000 36,000 0 $ 210,000 October 25 October 31 November 5 December 1 December 31 $ 0 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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
In the fourth quarter, the following entries related to its equity are recorded.
Date
October 2
October 25
October 31
November 5
December 1
ecember 31
Retained Earnings
Common Dividend Payable
General Journal
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
360,000
0
90,000
320,000
770,000
$360,000
90,000
320,000
$
Required:
2. Complete the following table showing the equity account balances at each indicated date.
$
October 2
$
0
Debit
60,000
60,000
75,000
$
36,000
210,000
October 25
Credit
60,000
60,000
36,000
39,000
36,000
0 $
210,000
October 31
0
November 5 December 1
$
0 $
December 31
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F563d9063-37e0-44c0-8c36-b8bc57fa7932%2Ff203c42d-588e-42af-af2e-289a3b04a110%2Fg0ngy7d_processed.png&w=3840&q=75)
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
In the fourth quarter, the following entries related to its equity are recorded.
Date
October 2
October 25
October 31
November 5
December 1
ecember 31
Retained Earnings
Common Dividend Payable
General Journal
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
360,000
0
90,000
320,000
770,000
$360,000
90,000
320,000
$
Required:
2. Complete the following table showing the equity account balances at each indicated date.
$
October 2
$
0
Debit
60,000
60,000
75,000
$
36,000
210,000
October 25
Credit
60,000
60,000
36,000
39,000
36,000
0 $
210,000
October 31
0
November 5 December 1
$
0 $
December 31
$
0
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