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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 mon stock $420,000 $ 420,000 80,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. Credit Date Oct. 2 General Journal Retained Earnings Common Dividend Payable Debit 50,000 50,000 Oct. 25 50,000 Common Dividend Payable Cash 50,000 Oct. 31 99,000 Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 48,000 51,000 Nov. 5 48,000 Common Stock Dividend Distributable Common Stock, $12 Par Value 48,000 Dec. 1 Memo-Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary Retained Earnings 290,000 290,000 LU dlluunil lile 2. Complete lile IUNIUWIIIy ldule STUWIIIy lile equily dlLuulil Wdldlices dl ediluildleu udle (lake beginning balances from September 30). Oct. 2 Oct. 25 Oct. 31 Nov. 5 Dec. 1 Dec.31 Sep 30 $ 420,000 Common stock Common stock dividend distributable Paid-in capital in excess of par, Common stock Retained earnings Total equity 80,000 360,000 $ 860,000
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