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
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