At September 30, the end of Being 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 $ 300,000 30,000 120,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Stock Dividend Distributable Pald-in Capital in Excess of Par Value, Common Stock Common Stock Dividand Distributable Common S Stock, $10 Par Value Mono-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 Ratained earings Required: 2. Complete the following table showing the equity account balances at each indicated date September 20 Beginning Balance S 300,000 $ S $ October 2 320,000 300,000 Dubit 80,000 71,000 October 26 $ 300,000 Credit October 21 $ November December 1 December 21 300,000 $ 330,000 $ 34,000 80,000 330,000

At September 30, the end of Being 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 $ 300,000 30,000 120,000 In the fourth quarter, the following entries related to its equity are recorded. General Journal October 2 October 25 October 31 November 5 December 1 December 31 Retained Earnings Common Dividend Payable Common Dividend Payable Cash Retained Earnings Stock Dividend Distributable Pald-in Capital in Excess of Par Value, Common Stock Common Stock Dividand Distributable Common S Stock, $10 Par Value Mono-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 Ratained earings Required: 2. Complete the following table showing the equity account balances at each indicated date September 20 Beginning Balance S 300,000 $ S $ October 2 320,000 300,000 Dubit 80,000 71,000 October 26 $ 300,000 Credit October 21 $ November December 1 December 21 300,000 $ 330,000 $ 34,000 80,000 330,000

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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The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. COMMON STOCK Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 6,000,000 Dec. 31 Balance PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 TREASURY STOCK Aug. 7 Purchased 12,000 shares 552,000 RETAINED EARNINGS Dividend Jan. 1 Balance Mar. 31 69,000 11,375,000 Dividend Closing (net income) June 30 69,000 Dec. 31 Sept. 30 Dividend 69,000 3,780,000 Dec. 31 Dec. 31 Dividend Balance 69,000 14,879,000
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained Earnings Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000 June 30 Dividend 69,000 Dec. 31 Closing Sept. 30 Dividend 69,000 (net income) 3,780,000 Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000 If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number…
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained Earnings Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000 June 30 Dividend 69,000 Dec. 31 Closing Sept. 30 Dividend 69,000 (net income) 3,780,000 Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000 If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number…
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At September 30, the end of Beijing Company’s third quarter, the following stockholders’ equity accounts are reported. Common stock, $14 par value $ 360,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 320,000 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 91,000 Common Stock Dividend Distributable 44,000 Paid-In Capital in Excess of Par Value, Common Stock 47,000 Nov. 5 Common Stock Dividend Distributable 44,000 Common Stock, $14 Par Value 44,000 Dec. 1 Memo—Change the title of the common stock account to reflect the new par value of $4. Dec. 31 Income Summary 210,000 Retained Earnings 210,000…
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