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At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported. Common stock, $14 par value $ 420,000 Paid-in
At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported.
Common stock, $14 par value | $ | 420,000 |
Paid-in capital in excess of par value, common stock | 110,000 | |
Retained earnings | 360,000 | |
In the fourth quarter, the following entries related to its equity are recorded.
Date | General Journal | Debit | Credit |
Oct. 2 | Retained Earnings | 60,000 | |
Common Dividend Payable | 60,000 | ||
Oct. 25 | Common Dividend Payable | 60,000 | |
Cash | 60,000 | ||
Oct. 31 | Retained Earnings | 67,000 | |
Common Stock Dividend Distributable | 32,000 | ||
Paid-In Capital in Excess of Par Value, Common Stock | 35,000 | ||
Nov. 5 | Common Stock Dividend Distributable | 32,000 | |
Common Stock, $14 Par Value | 32,000 | ||
Dec. 1 | MemoChange the title of the common stock | ||
account to reflect the new par value of $4. | |||
Dec. 31 | Income Summary | 280,000 | |
Retained Earnings | 280,000 | ||
Required: 2. Complete the following table showing the equity account balances at each indicated date.
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