At September 30, the end of Beijing Company\'s third quarter, the following stoc

Question

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 S 480,000 120,000 300,000 In the fourth quarter, the tollowing entries related to its equity are recorded Date General Journal Debit Credit 40,000 Oct 2 Retained Earnings Oct 25 Common Dividend Payable Oct. 31 Retained Earnings Common Dividend Payable 40,000 40,000 Cash 40,000 79,000 Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock 38,000 1,000 8,000 5 Common Stock Dividend Distributable 1 Memo-Change the title of the common stock account to reflect the new par 31 Income Summary Nov. Common Stock, $12 Par Value 38,000 Dec. value of $4 250,000 Dec. 250,000 Retained Earnings Required: 2. Complete the following table showing the equity account balances at each indicated date. Dec.31 Oct. 2 Oct. 25 Oct. 31 Nov. 5Dec. 1 Common stock Common stock dividend distributable Paid-in capital in excess of par, Common stock Retained earnings Total equity

Explanation / Answer

$480,000

$480,000

$480,000

$518,000

(480000+38000)

$518,000

$518,000

$120,000

$120,000

$161,000

(120,000+41000)

$161,000

$161,000

$161,000

$260,000

(300000-40000)

$260,000

$181,000

(260,000-79,000)

$181,000

$181,000

$431,000

(181000+250,000)

Oct 2 Oct 25 Oct 31 nov.5 Dec 1 Dec 31 Common stock

$480,000

$480,000

$480,000

$518,000

(480000+38000)

$518,000

$518,000

Common stock Dividend Distributable $38,000 Paid in capital in excess of par, Common stock

$120,000

$120,000

$161,000

(120,000+41000)

$161,000

$161,000

$161,000

Retained Earnings

$260,000

(300000-40000)

$260,000

$181,000

(260,000-79,000)

$181,000

$181,000

$431,000

(181000+250,000)

Total equity $860,000 $860,000 $860,000 $860,000 $860,000 $1,110,000

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