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Problem 11-3A (Algo) Equity analysisjournal entries and account balances LO P2 At...

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Accounting

Problem 11-3A (Algo) Equity analysisjournal entries and account balances LO P2
At September 30, the end of Beijing Companys third quarter, the following stockholders equity accounts are reported.
Common stock, $12 par value $ 480,000
Paid-in capital in excess of par value, common stock 100,000
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 50,000
Common Dividend Payable 50,000
October 25 Common Dividend Payable 50,000
Cash 50,000
October 31 Retained Earnings 83,000
Common Stock Dividend Distributable 40,000
Paid-In Capital in Excess of Par Value, Common Stock 43,000
November 5 Common Stock Dividend Distributable 40,000
Common Stock, $12 Par Value 40,000
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.

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