American Public University Operations And Supply Chain Management Assignment Help - Accounting

Question - At September 30, the end of Excel Company's third quarter, the following stockholders' equity
accounts are reported.
Common stock, $12 par value $ 720,000
Paid-in capital in excess of par value, common stock 180,000
Retained earnings 640,000


In the fourth quarter, the following entries related to its equity are recorded.
Date General Journal Debit Credit
Oct. 2 Retained Earnings 120,000
Common Dividend Payable 120,000
Oct.
25 Common Dividend Payable 120,000
Cash 120,000
Oct.
31 Retained Earnings 150,000
Common Stock Dividend Distributable 72,000
Paid-In Capital in Excess of Par Value, Common Stock 78,000
Nov. 5 Common Stock Dividend Distributable 72,000
Common Stock, $12 Par Value 72,000
Dec. 1 Memo"Cha ...Read More nge the title of the common stock account to reflect the new
par value of $4.
Dec.
31 Income Summary 420,000
Retained Earnings 420,000


Required:
2. Complete the following table showing the equity account balances at each indicated date (include
the balances from September 30). (Leave no cells blank - be certain to enter "0" wherever

required. Omit the "$" sign in your response.)

Oct. 2 Oct. 25 Oct. 31 Nov. 5 Dec. 1 Dec. 31
Commo
n stock $ $ $ $ $ $
Commo
n stock
dividend
distribut
able

Paid-in
capital
in
excess
of par,
common
stock

Retaine
d
earnings

Total
equity $ $ $ $ $ $ ...Read Less

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