Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How do I complete the table? Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings $ 390,00 89,990

image text in transcribed

image text in transcribed

How do I complete the table?

Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings $ 390,00 89,990 360,000 In the fourth quarter, the following entries related to its equity are recorded. Date Oct. 2 Credit General Journal Retained Earnings Common Dividend Payable Debit 69,900 60, ese Oct. 25 60,990 Common Dividend Payable Cash 60,990 Oct. 31 83,000 Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 40,000 43,eee Nov. 5 40,000 Common Stock Dividend Distributable Common Stock, $10 Par Value 40,000 Dec. 1 Memo-Change the title of the common stock account to reflect the new par value of $4. Dec. 31 220,000 Income Summary Retained Earnings 220,000 Oct. 2 Oct. 25 Oct. 31 Nov. 5 Dec 1 Dec 31 Sep. 30 Beg. Bal. $ 300,000 $ 300,000 $ 300,000 Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity $ 80,000 360 000 $ $ 740,000 $ 300,000 $ 300,000 $ 0 $ 0 $ 0 $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: David Spiceland

11th Edition

1264134525, 9781264134526

More Books

Students also viewed these Accounting questions

Question

3. To retrieve information from memory.

Answered: 1 week ago

Question

2. Value-oriented information and

Answered: 1 week ago

Question

1. Empirical or factual information,

Answered: 1 week ago