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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 $ 480,000 100,000 360,000 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 S S S S Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance 100,000 360,000 940,000 October 2 0✔ Debit 70,000 October 25 100,000 290,000 $ 870,000 32,000 70,000 67,000 260,000 Answer is complete but not entirely correct. $ 870,000 0✔ 100,000 290,000✔ Credit 480,000 $ 480,000 $ 480,000 $ 480300 $ 512,000 $ 512,000 S 512,000✔ 0 32,000 135,000✔ 203,000 X $ 850,000 $ 70,000 70,000 32,000 35,000 32,000 260,000 October 31 November December 5 1 0✔ 135,000✔ 203,000 X 850,000 0✔ 135,000✔ 203,000 x December 31 $ 850,000 135,000✔ 453,000 x $ 1,100,000

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 $ 480,000 100,000 360,000 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 S S S S Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance 100,000 360,000 940,000 October 2 0✔ Debit 70,000 October 25 100,000 290,000 $ 870,000 32,000 70,000 67,000 260,000 Answer is complete but not entirely correct. $ 870,000 0✔ 100,000 290,000✔ Credit 480,000 $ 480,000 $ 480,000 $ 480300 $ 512,000 $ 512,000 S 512,000✔ 0 32,000 135,000✔ 203,000 X $ 850,000 $ 70,000 70,000 32,000 35,000 32,000 260,000 October 31 November December 5 1 0✔ 135,000✔ 203,000 X 850,000 0✔ 135,000✔ 203,000 x December 31 $ 850,000 135,000✔ 453,000 x $ 1,100,000

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 5SEA: STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity...
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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 $ 480,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 360,000 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 S Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance S S S 480,000 100,000 360,000 940,000 October 2 Debit 70,000 70,000 67,000 October 25 32,000 260,000 0 Answer is complete but not entirely correct. Credit 70,000 70,000 32,000 35,000 32,000 260,000 October 31 November 5 December 1 $ 480,000 $ 480,000 $ 480300 $ 512,000 $ 512,000 $ 512,000✔ 0 0✓ 0♥ 100,000✔ 100,000 290,000✔ 290,000 $ 870,000 $ 870,000 32,000 135,000 203,000 X $ 850,000 S 0✔ 135,000✔ 203,000 X 850,000 135,000 203,000 x December 31 $ 850,000 135,000 453,000 x $ 1,100,000
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 $ 480,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 360,000 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 S Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance S S S 480,000 100,000 360,000 940,000 October 2 Debit 70,000 70,000 67,000 October 25 32,000 260,000 0 Answer is complete but not entirely correct. Credit 70,000 70,000 32,000 35,000 32,000 260,000 October 31 November 5 December 1 $ 480,000 $ 480,000 $ 480300 $ 512,000 $ 512,000 $ 512,000✔ 0 0✓ 0♥ 100,000✔ 100,000 290,000✔ 290,000 $ 870,000 $ 870,000 32,000 135,000 203,000 X $ 850,000 S 0✔ 135,000✔ 203,000 X 850,000 135,000 203,000 x December 31 $ 850,000 135,000 453,000 x $ 1,100,000
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