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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in
At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings $ 420,000 100,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. Date October 2 General Journal Debit Credit Retained Earnings 80,000 Common Dividend Payable 80,000 October 25 Common Dividend Payable 80,000 Cash 80,000 October 31 Retained Earnings 79,000 Common Stock Dividend Distributable 38,000 November 5 Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable 41,000 38,000 Common Stock, $12 Par Value 38,000 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 290,000 290,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance $ 420,000 October 2 October 25 October 31 November 5 December 1 December 31 Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock $ 100,000 Retained earnings 360,000 Total equity $ 880,000 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
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