At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported.Common stock, $12 par valuePaid-in capital in excess of par value, common stockRetained earnings$ 300,000110,000300,000In the fourth quarter, the following entries related to its equity are recorded.DateGeneral JournalDebitCreditRetained EarningsCommon Dividend PayableCommon Dividend PayableOctober 260,00060,000October 2560,000Cash60,000October 31Retained Earnings67,000Common Stock Dividend Distributable32,00035,000Paid-In Capital in Excess of Par Value, Common StockCommon Stock Dividend DistributableNovember 532,000Common Stock, $12 Par ValueMemo-Change the title of the common stockaccount to reflect the new par value of $4.Income SummaryRetained Earnings32,000December 1December 31270,000270,000 Required:2. Complete the following table showing the equity account balances at each indicated date.September 30BeginningBalanceOctober 2October 25October 31November 5December 1December 31Common stock300,000 $300,000 $300,000 $300,000 $332,000$332,000 $332,000Common stock dividend distributable32,000Paid-in capital in excess of par, common stock2$110,000110,000110,000145,000145,000145,000145,000Retained earnings$300,000240,000240,000Total equity710,000 $650,000 $650,000$477,000 $477,000 $477,000 $477,000

The balance of equity includes the common stock, paid in capital in excess of par value, retained…

At September 30, the end of Beijing Company's third quarter, the fOllowing stocknolders equity accounts are re $ 300,000 Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings 110,000 300,000 In the fourth quarter, the following entries related to its equity are recorded. Date General Journal Debit Credit Retained Earnings Common Dividend Payable Common Dividend Payable Cash October 2 60,000 60,000 October 25 60,000 60,000 October 31 Retained Earnings 67,000 Common Stock Dividend Distributable 32,000 35,000 Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable November 5 32,000 Common Stock, $12 Par Value 32,000 December 1 Memo-Change the title of the common stock account to reflect the new par value of $4. December 31 Income Summary 270,000 Retained Earnings 270,000

At September 30, the end of Beijing Company's third quarter, the fOllowing stocknolders equity accounts are re $ 300,000 Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings 110,000 300,000 In the fourth quarter, the following entries related to its equity are recorded. Date General Journal Debit Credit Retained Earnings Common Dividend Payable Common Dividend Payable Cash October 2 60,000 60,000 October 25 60,000 60,000 October 31 Retained Earnings 67,000 Common Stock Dividend Distributable 32,000 35,000 Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable November 5 32,000 Common Stock, $12 Par Value 32,000 December 1 Memo-Change the title of the common stock account to reflect the new par value of $4. December 31 Income Summary 270,000 Retained Earnings 270,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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