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Beijing Company's third quarte Common stock, $12 par value Paid-in capital in excess of par value, common stoc. Betained earnings

Beijing Company's third quarte Common stock, $12 par value Paid-in capital in excess of par value, common stoc. Betained earnings

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 21E
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Ee 78.at September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported

 

 

At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. $360,000 80,000 320,000 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 Oct. 25 Common Dividend Payable Cash Retained Earnings Common Dividend Payable Oct. 31 Retained Earnings Nov. 5 Dec. 31 Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 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. Income Summary Retained Earnings Debit 50,000 50,000 99,000 48,000 220,000 Credit 50,000 50,000 48,000 51,000 48,000 220,000
Transcribed Image Text:At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. $360,000 80,000 320,000 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 Oct. 25 Common Dividend Payable Cash Retained Earnings Common Dividend Payable Oct. 31 Retained Earnings Nov. 5 Dec. 31 Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 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. Income Summary Retained Earnings Debit 50,000 50,000 99,000 48,000 220,000 Credit 50,000 50,000 48,000 51,000 48,000 220,000
Required: 2. Complete the following table showing the equity account balances at each indicated date. Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity $ $ $ $ Sep. 30 Beg. Bal. Oct. 2 Oct. 25 Oct. 31 360,000 $360,000 $360,000 $360,000 Nov. 5 80,000 320,000 760,000 $360,000 $360,000 $300,000 $ 0 $ Dec. 1 0 $ Dec.31 0
Transcribed Image Text:Required: 2. Complete the following table showing the equity account balances at each indicated date. Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity $ $ $ $ Sep. 30 Beg. Bal. Oct. 2 Oct. 25 Oct. 31 360,000 $360,000 $360,000 $360,000 Nov. 5 80,000 320,000 760,000 $360,000 $360,000 $300,000 $ 0 $ Dec. 1 0 $ Dec.31 0
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