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At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance S Required: 2. Complete the following table showing the equity account balances at each indicated date. $ S S 420,000 $ 420,000 120,000 320,000 120,000 320,000 860,000 October 2 $ 420,000 $ 420,000 Debit 40,000 0 40,000 67,000 120,000 320,000 X $ 860,000 $ 32,000 260,000 Answer is complete but not entirely correct. October 25 November 5 $452,000 Credit 40,000 40,000 32,000 35,000 October 31 120,000 320,000 X 860,000 $ 32,000 260,000 $420,000 32,000 155,000 171.000 X 778,000 $ 0 December $452.000 155,000 171,000 X 778,000 S 0✔ 155,000 171.000 > 778,000 December 31 $ 452,000 0✔ 435,000 X 430,000 > $ 1,317,000

At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance S Required: 2. Complete the following table showing the equity account balances at each indicated date. $ S S 420,000 $ 420,000 120,000 320,000 120,000 320,000 860,000 October 2 $ 420,000 $ 420,000 Debit 40,000 0 40,000 67,000 120,000 320,000 X $ 860,000 $ 32,000 260,000 Answer is complete but not entirely correct. October 25 November 5 $452,000 Credit 40,000 40,000 32,000 35,000 October 31 120,000 320,000 X 860,000 $ 32,000 260,000 $420,000 32,000 155,000 171.000 X 778,000 $ 0 December $452.000 155,000 171,000 X 778,000 S 0✔ 155,000 171.000 > 778,000 December 31 $ 452,000 0✔ 435,000 X 430,000 > $ 1,317,000

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 4PB: Entries for selected corporate transactions Nav-Go Enterprises Inc. produces aeronautical navigation...
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At September 30, the end of Beijing Company’s third quarter, the following stockholders’ equity accounts are reported.

At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance S S S $ 420,000 $ 420,000 120,000 320,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 120,000 320,000 860,000 October 2 Debit 40,000 October 25 40,000 $ 420,000 $ 420,000 0✔ 120,000✔ 320,000 X $ 860,000 $ 67,800 32,000 260,000 Credit Answer is complete but not entirely correct. 40,000 40,000 32,000 35,000 0✓ 120,000✔ 320,000 X 860,000 $ 32,000 260,000 October 31 November $ 420,000 32,000✔ 155,000 ✓ 171,000 X 778,000 S December $ 452,000 $ 452,000 0✔ 155,000 ✓ 171,000 X 778,000 $ 0✓ 155,000 ✓ 171,000 X 778,000 December 31 $ 452.000 0✔ 435,000 X 430,000 X $ 1.317.000
Transcribed Image Text:At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported. Common stock, $10 par value Paid-in capital in excess of par value, common stock Retained earnings In the fourth quarter, the following entries related to its equity are recorded. General Journal Date October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable Common Stock, $10 Par Value Memo-Change the title of the common stock account to reflect the new par value of $4. Income Summary Retained Earnings Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock Retained earnings Total equity September 30 Beginning Balance S S S $ 420,000 $ 420,000 120,000 320,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. 120,000 320,000 860,000 October 2 Debit 40,000 October 25 40,000 $ 420,000 $ 420,000 0✔ 120,000✔ 320,000 X $ 860,000 $ 67,800 32,000 260,000 Credit Answer is complete but not entirely correct. 40,000 40,000 32,000 35,000 0✓ 120,000✔ 320,000 X 860,000 $ 32,000 260,000 October 31 November $ 420,000 32,000✔ 155,000 ✓ 171,000 X 778,000 S December $ 452,000 $ 452,000 0✔ 155,000 ✓ 171,000 X 778,000 $ 0✓ 155,000 ✓ 171,000 X 778,000 December 31 $ 452.000 0✔ 435,000 X 430,000 X $ 1.317.000
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