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lue is of par value, common stock $360,000 120,000 360,000 wing entries related to its equity are recorded. General Journal Earnings Dividend Payable vidend Payable Earnings Stock Dividend Distributable Capital in Excess of Par Value, Common Stock ock Dividend Distributable Stock, $14 Par Value ge the title of the common stock to reflect the new par value of $4. mmary d Earnings Debit 50,000 50,000 83,000 40,000 250,000 Credit 50,000 50,000 40,000 43,000 40,000 250,000

lue is of par value, common stock $360,000 120,000 360,000 wing entries related to its equity are recorded. General Journal Earnings Dividend Payable vidend Payable Earnings Stock Dividend Distributable Capital in Excess of Par Value, Common Stock ock Dividend Distributable Stock, $14 Par Value ge the title of the common stock to reflect the new par value of $4. mmary d Earnings Debit 50,000 50,000 83,000 40,000 250,000 Credit 50,000 50,000 40,000 43,000 40,000 250,000

FINANCIAL ACCOUNTING
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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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. 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 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 $ $360,000 120,000 360,000 $ $ $ Required: 2. Complete the following table showing the equity account balances at each indicated date. 360,000 October 2 Debit 50,000 50,000 83,000 120,000 360,000 50,000 840,000 $ 50,000 $ 40,000 250,000 Credit 0 $ 50,000 50,000 40,000 43,000 40,000 October 25 October 31 250,000 November 5 0 $ December 1 0 $ December 31 0 $ 0
Transcribed Image Text:At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. 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 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 $ $360,000 120,000 360,000 $ $ $ Required: 2. Complete the following table showing the equity account balances at each indicated date. 360,000 October 2 Debit 50,000 50,000 83,000 120,000 360,000 50,000 840,000 $ 50,000 $ 40,000 250,000 Credit 0 $ 50,000 50,000 40,000 43,000 40,000 October 25 October 31 250,000 November 5 0 $ December 1 0 $ December 31 0 $ 0
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