Question

At December 31, the end of Chilton Communication’s third quarter the following stockholders’ equity accounts are reported:
Common stock, $ 10 par value . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 960,000
Paid- in capital in excess of par value, common stock . . . . . . . . . 384,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,600,000
In the fourth quarter, the following entries related to its equity are recorded:


Required
1. Explain the transaction(s) underlying each journal entry.
2. Complete the following table showing the equity account balances at each indicated date


(Include the balances from December31).


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  • CreatedNovember 26, 2013
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