Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at september 30, the end of beijing companys third

At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts...

90.2K

Verified Solution

Question

Accounting

At September 30, the end of Beijing Companys 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 120,000
Retained earnings 340,000
In the fourth quarter, the following entries related to its equity are recorded.
Date General Journal Debit Credit
October 2 Retained Earnings 70,000
Common Dividend Payable 70,000
October 25 Common Dividend Payable 70,000
Cash 70,000
October 31 Retained Earnings 75,000
Common Stock Dividend Distributable 36,000
Paid-In Capital in Excess of Par Value, Common Stock 39,000
November 5 Common Stock Dividend Distributable 36,000
Common Stock, $14 Par Value 36,000
December 1 MemoChange the title of the common stock
account to reflect the new par value of $4.
December 31 Income Summary 240,000
Retained Earnings 240,000
Required:
2. Complete the following table showing the equity account balances at each indicated date.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Describe an experiment for electrostatic force and record your experiment with your phone.Describe your experiment and...

Physics
1.2K views

Waves travel at different velocity in different medium. How does wave velocity effect wave frequency?

Biology
1.2K views

Select the correct answer What is the envelope of gas that surrounds Earth OA geosphere...

Accounting
1.2K views

Crane Fabrication allocates manufacturing overhead to each job using departmental overhead rates. Crane's operations...

Accounting
1.2K views

please help Aecording the Sale of Common steok Requiredt

Accounting
1.2K views

Calculate the current breakeven car washes (dollars & car washes), margin of safety and degree...

Accounting
1.2K views

On July 23 of the current year, Dakota Mining Company pays $4,715,000 for land estimated...

Accounting
1.2K views

APTER 7 Production Budget Pasadena Candle Inc units December 31 inventory is 8,000 Prepare a...

Accounting
1.2K views

The following information is avaliable for Sandhill Corporation's penelon plan for the year 2023. (a)...

Accounting
1.2K views

CVP analysis, margin of safety. Suppose Morrison Corp.'s breakeven point is revenues of $1,100,000. Fixed...

Accounting
1.2K views

Ex5-8 Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data...

Finance
1.2K views

Markowitz's portfolio optimization In this project, you will learn how to implement Markowitz's portfolio optimization...