At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported.Common stock, $10 par value$ 380,000Paid-in capital in excess of par value, common stockRetained earnings80,000320,000In the fourth quarter, the following entries related to its equity are recorded.DateGeneral JournalOctober 2October 25October 31November 5December 1December 31Retained EarningsCommon Dividend PayableCommon Dividend PayableCashRetained EarningsCommon Stock Dividend DistributablePaid-In Capital in Excess of Par Value, Common StockCommon Stock Dividend DistributableCommon Stock, $10 Par ValueMono-Change the title of the common stockaccount to reflect the new par value of $4.Income SummaryRetained EarningsCommon stockCommon stock dividend distributablePaid-in capital in excess of par, common stockRetained earingsTotal equitySeptember 30BeginningBalanceRequired:2. Complete the following table showing the equity account balances at each indicated diste.$S$$October 2Debit50,000300,000 $ 300,000080,00058,00071,80034,000280,000October 26$ 300,000080,000Credit80,000320,000700,000 $ 380,000 $ 380,000 $50,80058,88834,80037,00034,800280,000October $1$ 300,000 $ 330,000 $034,000wwwwwwwwwwww80,000414,000November 6December 1$ 330,000 $330,0000December 31330,000 $00

The business needs funds to establish and operate the business. The business raises money by selling…

Answered: At September 30, the end of Being…

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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Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity se Common Stock, $70 par $5,600,000 Paid-In Capital from Sale of Treasury Stock 112,000 Paid-In Capital in Excess of Par-Common Stock 2,160,000 Retained Earnings 2,800,000 Treasury Stock 67,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity
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View Policies Current Attempt in Progress The following information is available for Metlock Hill Corporation: Beginning common stockholders equity $790,000 Dividends paid to common stockholders 60,000 Dividends paid to preferred stockholders 32,000 Ending common stockholders'equity 1,000,000 Net income 219,950 Based on the preceding information, calculate return on common stockholders'equity. Return on common stockholders' equity eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later
Statement of stockholders’ equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid-In Capital, $3,300,000; and Retained Earnings, $12,300,000. During June, Noric issued for cash 30,000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Net income $2,250,000 Cash dividends declared 475,000 Prepare a statement of stockholders’ equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank. Noric Cruises Inc.Statement of Stockholders' EquityFor the Month Ended October 31 CommonStock AdditionalPaid-InCapital RetainedEarnings Total $Balances, October 1 $Balances, October 1 $Balances, October 1 Balances, October 1 Issued Common Stock Issued…
Goda
Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $618,000 $300,000 Current maturities of serial bonds payable 550,000 550,000 Serial bonds payable, 10% 2,480,000 3,030,000 Common stock, $1 par value 90,000 120,000 Paid-in capital in excess of par 1,000,000 1,010,000 Retained earnings 3,470,000 2,750,000 The income before income tax expense was $757,500 and $662,800 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Prior year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Prior year fill in the blank 4 c. The ratio of liabilities to stockholders' equity have improved and the…
Looking for the Less: Cash dividends declared to find the Retained earnings.. Attached the journal entries as well.
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…
Income Statement, Statement of stockholders’ equity, and Balance Sheet Viva Travel Service reported assets, liabilities, revenues and expenses for September 30, 20Y6 below. As of October 1, 20Y5, the beginning of the current year, Viva Travel Service reported retained earnings as $60,900, and common stock as $7,500. During the current year, dividends in the amount of $28,600 were paid. Accounts payable $22,290 Accounts receivable 134,312 Common stock 15,000 Cash 240,858 Fees earned 801,300 Miscellaneous expense 6,230 Rent expense 103,770 Supplies 10,380 Supplies expense 16,600 Utilities expense 62,260 Wages expense 296,480 Instructions: Question Content Area 1. Prepare an income statement for the current year ended September 30, 20Y6. Viva Travel ServiceIncome StatementFor the Year Ended September 30, 20Y6 $- Select - Operating expenses: $- Select - - Select - - Select - - Select - - Select -…
Journalize and prepare a new stockholder's equity section dated 12/31/22.
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. 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, $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…

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