Common stock, $14 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 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 Stook, $14 Par Value Heno-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 $ $ $ $ $ 300,000 110,000 400,000 Required: 2. Complete the following table showing the equity account balances at each indicated date 300,000 110,000 400,000 810,000 Debit 40,000 40,000 67,000 32,000 200,000 Credit 40,000 40,000 32,000 35,000 32,000 200,000 October 2 October 25 October 31 November 5 December 1 December 31
Common stock, $14 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 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 Stook, $14 Par Value Heno-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 $ $ $ $ $ 300,000 110,000 400,000 Required: 2. Complete the following table showing the equity account balances at each indicated date 300,000 110,000 400,000 810,000 Debit 40,000 40,000 67,000 32,000 200,000 Credit 40,000 40,000 32,000 35,000 32,000 200,000 October 2 October 25 October 31 November 5 December 1 December 31
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 82E
Related questions
Question
b2.
![Common stock, $14 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
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, $14 Par Value
Hemo-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
$
$
$
$
$ 300,000
110,000
400,000
Required:
2. Complete the following table showing the equity account balances at each indicated date.
300,000
110,000
400,000
810,000
Debit
40,000
October 2
40,000
67,000
32,000
200,000
October 25
Credit
40,000
40,000
32,000
35,000
32,000
200,000
October 31
November 5
December 1 December 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10c65e00-cc95-4692-86f3-b9b8940e33a4%2F69191737-f954-4308-92d7-0c428b6671c7%2Fgus6yii_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Common stock, $14 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
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, $14 Par Value
Hemo-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
$
$
$
$
$ 300,000
110,000
400,000
Required:
2. Complete the following table showing the equity account balances at each indicated date.
300,000
110,000
400,000
810,000
Debit
40,000
October 2
40,000
67,000
32,000
200,000
October 25
Credit
40,000
40,000
32,000
35,000
32,000
200,000
October 31
November 5
December 1 December 31
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