At September 30, the end of Being 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 $ 300,000 30,000 120,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Stock Dividend Distributable Pald-in Capital in Excess of Par Value, Common Stock Common Stock Dividand Distributable Common S Stock, $10 Par Value Mono-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 Ratained earings Required: 2. Complete the following table showing the equity account balances at each indicated date September 20 Beginning Balance S 300,000 $ S $ October 2 320,000 300,000 Dubit 80,000 71,000 October 26 $ 300,000 Credit October 21 $ November December 1 December 21 300,000 $ 330,000 $ 34,000 80,000 330,000
At September 30, the end of Being 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 $ 300,000 30,000 120,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Stock Dividend Distributable Pald-in Capital in Excess of Par Value, Common Stock Common Stock Dividand Distributable Common S Stock, $10 Par Value Mono-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 Ratained earings Required: 2. Complete the following table showing the equity account balances at each indicated date September 20 Beginning Balance S 300,000 $ S $ October 2 320,000 300,000 Dubit 80,000 71,000 October 26 $ 300,000 Credit October 21 $ November December 1 December 21 300,000 $ 330,000 $ 34,000 80,000 330,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
$ 380,000
Paid-in capital in excess of par value, common stock
Retained earnings
80,000
320,000
In the fourth quarter, the following entries related to its equity are recorded.
Date
General Journal
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, $10 Par Value
Mono-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 earings
Total equity
September 30
Beginning
Balance
Required:
2. Complete the following table showing the equity account balances at each indicated diste.
$
S
$
$
October 2
Debit
50,000
300,000 $ 300,000
0
80,000
58,000
71,800
34,000
280,000
October 26
$ 300,000
0
80,000
Credit
80,000
320,000
700,000 $ 380,000 $ 380,000 $
50,800
58,888
34,800
37,000
34,800
280,000
October $1
$ 300,000 $ 330,000 $
0
34,000
wwwwwwwwwwww
80,000
414,000
November 6
December 1
$ 330,000 $
330,000
0
December 31
330,000 $
0
0
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