Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please fill table out At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $12 par

please fill table out image text in transcribed
image text in transcribed
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 $ 300,000 120,000 380,880 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 40,000 t s 40,000 Oct. 25 40,000 Common Dividend Payable Cash 40,000 Oct. 31 79,000 Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 38,000 41,888 Nov. 5 38,800 Common Stock Dividend Distributable Common Stock, $12 Par Value 38,800 Dec. 1 Memo-Change the title of the common stock account to reflect the new par value of $4. 240,000 Dec. 31 Income Summary Retained Earnings 240,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. Oct. 2 Oct. 25 Oct 31 Nov. 5 Dec. 1 Dec.31 Common stock Common stock dividend distributable Paid-in capital in excess of par, Common stock Retained earnings Total equity

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

Financial Accounting IFRS WileyPLUS NextGen Card With Loose Leaf Print Companion Set

Authors: Jerry J. Weygandt ,Paul D. Kimmel ,Donald E. Kieso

4th Edition

1119504708

More Books

Students also viewed these Accounting questions