The following is selected financial information for Osmond Dental Laboratories for 2021 and 2022: 2021 2022 Retained earnings, J
anuary 1 $ 52,000 ? Net income 34,000 46,000 Dividends 12,000 22,000 Common stock 71,000 ? Osmond issued 3,000 shares of additional common stock in 2022 for $20,000. There were no other stock transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2022. (Amounts to be deducted should be indicated with minus sign.)
1 answer:
Answer:
Explanation:
The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
= $52,000 + $34,000 - $12,000
= $74,000
And, the ending balance of the common stock = Beginning balance of common stock + issued shares
= $71,000 + $20,000
= $91,000
The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:
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Answer:
58
Explanation:
In this question we use the NPER function that is shown in the excel spreadsheet
Given that,
Present value = $0
Future value or Face value = $26,182
PMT = $400
Rate = 5% ÷ 12 months = 0.41666%
The formula is shown below:
= NPER(RATE,PMT,-PV,FV,type)
The PMT come in negative
So, after solving this, the number of payments is 58
