At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are...
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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 $ 360,000 110,000 320,000 In the fourth quarter, the following entries related to its equity are recorded. Date October 2 General Journal Debit Credit Retained Earnings 60,000 Common Dividend Payable 60,000 October 25 Common Dividend Payable 60,000 Cash 60,000 October 31 Retained Earnings 83,000 Common Stock Dividend Distributable 40,000 Paid-In Capital in Excess of Par Value, Common Stock 43,000 November 5 Common Stock Dividend Distributable 40,000 Common Stock, $14 Par Value 40,000 December 1 Memo-Change the title of the common stock account to reflect the new par value of $4. December 31 Income Summary Retained Earnings 270,000 270,000 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 $ 360,000 110,000 320,000 In the fourth quarter, the following entries related to its equity are recorded. Date October 2 General Journal Debit Credit Retained Earnings 60,000 Common Dividend Payable 60,000 October 25 Common Dividend Payable 60,000 Cash 60,000 October 31 Retained Earnings 83,000 Common Stock Dividend Distributable 40,000 Paid-In Capital in Excess of Par Value, Common Stock 43,000 November 5 Common Stock Dividend Distributable 40,000 Common Stock, $14 Par Value 40,000 December 1 Memo-Change the title of the common stock account to reflect the new par value of $4. December 31 Income Summary Retained Earnings 270,000 270,000
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