At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported.
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At September 30, the end of Beijing Company’s third quarter, the following stockholders’ equity accounts are reported.
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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: General Journal Date Oct. 2 Retained Earnings Common Dividend Payable Oct. 25 Common Dividend Payable Cash. Oct. 31 Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Nov. 5 Common Stock Dividend Distributable Common Stock, $12 Par Value Dec. 1 Memo Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary $ 480,000 90,000 380,000 Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, Common stock Retained earnings Total equity $ Oct. 2 Debit 40,000 Oct. 25 40,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 83,000 40,000 210,000 Oct. 31 Credit 40,000 40,000 40,000 43,000 40,000 210,000 Nov. 5 Dec. 1 Dec.31 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: General Journal Date Oct. 2 Retained Earnings Common Dividend Payable Oct. 25 Common Dividend Payable Cash. Oct. 31 Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Nov. 5 Common Stock Dividend Distributable Common Stock, $12 Par Value Dec. 1 Memo Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary $ 480,000 90,000 380,000 Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, Common stock Retained earnings Total equity $ Oct. 2 Debit 40,000 Oct. 25 40,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 83,000 40,000 210,000 Oct. 31 Credit 40,000 40,000 40,000 43,000 40,000 210,000 Nov. 5 Dec. 1 Dec.31
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Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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