At September 30, the end of Beijing Company's third quarter, the following stockholders' equity accounts are reported.Common stock, $14 par valuePaid-in capital in excess of par value, common stock.Retained earningsIn the fourth quarter, the following entries related to its equity are recorded.DateOctober 2October 25October 31November 5December 1December 31General JournalRetained EarningsCommon Dividend PayableCommon Dividend PayableCashRetained Earnings.Common Stock Dividend DistributablePaid-In Capital in Excess of Par Value, Common StockCommon Stock Dividend DistributableCommon Stock, $14 Par ValueMemo-Change the title of the common stockaccount to reflect the new par value of $4.Income SummaryRetained EarningsCommon stockCommon stock dividend distributablePaid-in capital in excess of par, common stockRetained earningsTotal equitySeptember 30BeginningBalance$$360,000120,000360,000$$$Required:2. Complete the following table showing the equity account balances at each indicated date.360,000October 2Debit50,00050,00083,000120,000360,00050,000840,000 $ 50,000 $40,000250,000Credit0 $50,00050,00040,00043,00040,000October 25 October 31250,000November 50 $December 10 $December 310 $0

The stock dividend refers to where the entity allocates the common shares to the shareholders to…

lue is of par value, common stock $360,000 120,000 360,000 wing entries related to its equity are recorded. General Journal Earnings Dividend Payable vidend Payable Earnings Stock Dividend Distributable Capital in Excess of Par Value, Common Stock ock Dividend Distributable Stock, $14 Par Value ge the title of the common stock to reflect the new par value of $4. mmary d Earnings Debit 50,000 50,000 83,000 40,000 250,000 Credit 50,000 50,000 40,000 43,000 40,000 250,000

lue is of par value, common stock $360,000 120,000 360,000 wing entries related to its equity are recorded. General Journal Earnings Dividend Payable vidend Payable Earnings Stock Dividend Distributable Capital in Excess of Par Value, Common Stock ock Dividend Distributable Stock, $14 Par Value ge the title of the common stock to reflect the new par value of $4. mmary d Earnings Debit 50,000 50,000 83,000 40,000 250,000 Credit 50,000 50,000 40,000 43,000 40,000 250,000

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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