Homework: Corporate Reporting and Analysis Problems Assignment i Saved 3 2.08 points 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 $ 420,000 90,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. eBook Date October 2 General Journal Debit Credit Retained Earnings 50,000 Common Dividend Payable 50,000 October 25 Common Dividend Payable 50,000 Cash 50,000 Print October 31 Retained Earnings 91,000 Common Stock Dividend Distributable 44,000 November 5 Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable 47,000 44,000 References Common Stock, $12 Par Value 44,000 December 1 Memo-Change the title of the common stock December 31 account to reflect the new par value of $4. Income Summary 280,000 Retained Earnings 280,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance October 2 October 25 October 31 November 5 December 1 December 31 Common stock $ 420,000 $ 420,000 $ 420,000 $ Common stock dividend distributable 0 0 420,000 $ 466,000 $ 46,000 466,000 $ 466,000 0 0 0 Paid-in capital in excess of par, common stock $ 90,000 Retained earnings $ 360,000 Total equity $ EA 870,000 $ 9,000 340,000 769,000 $ 90,000 139,000 139,000 139,000 139,000 340,000 850,000 $ 285,000 285,000 285,000 495,000 890,000 $ 890,000 $ 890,000 $1,100,000
Homework: Corporate Reporting and Analysis Problems Assignment i Saved 3 2.08 points 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 $ 420,000 90,000 360,000 In the fourth quarter, the following entries related to its equity are recorded. eBook Date October 2 General Journal Debit Credit Retained Earnings 50,000 Common Dividend Payable 50,000 October 25 Common Dividend Payable 50,000 Cash 50,000 Print October 31 Retained Earnings 91,000 Common Stock Dividend Distributable 44,000 November 5 Paid-In Capital in Excess of Par Value, Common Stock Common Stock Dividend Distributable 47,000 44,000 References Common Stock, $12 Par Value 44,000 December 1 Memo-Change the title of the common stock December 31 account to reflect the new par value of $4. Income Summary 280,000 Retained Earnings 280,000 Required: 2. Complete the following table showing the equity account balances at each indicated date. September 30 Beginning Balance October 2 October 25 October 31 November 5 December 1 December 31 Common stock $ 420,000 $ 420,000 $ 420,000 $ Common stock dividend distributable 0 0 420,000 $ 466,000 $ 46,000 466,000 $ 466,000 0 0 0 Paid-in capital in excess of par, common stock $ 90,000 Retained earnings $ 360,000 Total equity $ EA 870,000 $ 9,000 340,000 769,000 $ 90,000 139,000 139,000 139,000 139,000 340,000 850,000 $ 285,000 285,000 285,000 495,000 890,000 $ 890,000 $ 890,000 $1,100,000
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 5PA: Multiple-step income statement and balance sheet The following selected accounts and their current...
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Transcribed Image Text:Homework: Corporate Reporting and Analysis Problems Assignment i
Saved
3
2.08
points
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
$ 420,000
90,000
360,000
In the fourth quarter, the following entries related to its equity are recorded.
eBook
Date
October 2
General Journal
Debit
Credit
Retained Earnings
50,000
Common Dividend Payable
50,000
October 25
Common Dividend Payable
50,000
Cash
50,000
Print
October 31
Retained Earnings
91,000
Common Stock Dividend Distributable
44,000
November 5
Paid-In Capital in Excess of Par Value, Common Stock
Common Stock Dividend Distributable
47,000
44,000
References
Common Stock, $12 Par Value
44,000
December 1
Memo-Change the title of the common stock
December 31
account to reflect the new par value of $4.
Income Summary
280,000
Retained Earnings
280,000
Required:
2. Complete the following table showing the equity account balances at each indicated date.
September 30
Beginning
Balance
October 2
October 25 October 31 November 5
December 1
December 31
Common stock
$
420,000 $ 420,000 $
420,000 $
Common stock dividend distributable
0
0
420,000 $ 466,000 $
46,000
466,000 $ 466,000
0
0
0
Paid-in capital in excess of par, common stock
$
90,000
Retained earnings
$
360,000
Total equity
$
EA
870,000 $
9,000
340,000
769,000 $
90,000
139,000
139,000
139,000
139,000
340,000
850,000 $
285,000
285,000
285,000
495,000
890,000 $
890,000 $ 890,000 $1,100,000
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