1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
RSB [31]
3 years ago
7

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.)

Business
1 answer:
Anettt [7]3 years ago
6 0

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:

You might be interested in
For the year, Peggy Grey's Cookies had net income of $8,110. The firm paid out 30 percent of the net income to its shareholders
slamgirl [31]

Answer:

$2,933

Explanation:

The company had a net income of $8,110, and paid 30% of it to its shareholders, therefore:

$8,110 x 0.30 = $2,433.

But it also repurchased $500 worth of common stock, and this is to be distributed among the sharedholders as well, thus:

$2,433 + $500 = $2,933

8 0
3 years ago
The payroll register of Ruggerio Co. indicates $10,500 of social security withheld and $2,625 of Medicare tax withheld on total
Anna [14]

Answer:

From the information provided

Federal rate tax of earnings = 30000 × 0.6%

= 30000 × 0.006

= 180

State rate tax of earnings = 30000 × 5.4%

= 30000 × 0.054

= 1620

Medicare taxes = 2625

Social security taxes = 10500

Total payroll tax expenses = Medicare taxes + social security taxes + state rate tax on earnings + federal rate tax on earnings

= 10500 + 2625 + 180 +1620

= $ 14925

THUS,

JOURNAL ENTRY

___Accounts_______Debit ($)____Credit ($)

Payroll Tax Expense__ 14925

Social Security Payable___________ 10,500

Medicare Payable________________2625

FUTA Payable ___________________180

SUTA Payable ___________________1620

6 0
3 years ago
Read 2 more answers
10. Nancy White’s employer provides individual and family group health plan coverage, and it pays 80 percent of her annual premi
elena-s [515]

Answer:

$115.38

Explanation:

Since Nancy only has to pay 20% of her health insurance premium, her total biweekly deduction = $3,000 / 26 weeks = $115.38

Generally health insurance premiums are paid on a monthly basis, but lately some health care providers are starting to take quarterly, semiannual and even annual payments. The thing is that you always pay in advance, so generally people choose to pay it with their paychecks. It makes sense, since unless you earn a lot of money, a $3,000 payment would represent a large portion of your salary.

8 0
3 years ago
The graph shows excess demand. A graph titled Excess supply has quantity on the x-axis and price on the y-axis. A line with posi
Anton [14]

Answer:the firm should increase price

Explanation:

From the question there is a shortage i.e Demand is greater than Supply, the firm should increase the price of the product which would induce suppliers to increase their supply.

The increase in price would lead to a movement along the demand curve with would in turn correct the disequilibrium.

4 0
3 years ago
Read 2 more answers
Suri is graduating from college soon and has been contemplating her career choices. She is graduating with a bachelor’s degree i
Ainat [17]
The best fit for Suri will be MARKETING.
To be an effective marketer, one needs certain skills which are crucial to success in the marketing field. These skills include: good interpersonal relationship, good writing skills, great creativity and expression, good team player, etc. Suri has these qualities; the qualities will make her a good marketer.
4 0
3 years ago
Read 2 more answers
Other questions:
  • Roofing Issues. Sally agrees to roof a house for Bob. After doing his research, Bob chooses Sally based on her great reputation
    7·1 answer
  • What is the amount of money you still owe to their credit card company called
    11·2 answers
  • At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a eight-year operating lease agr
    15·1 answer
  • An insurance contract must comply with the "Principle of Indemnity". Jarron's friend Nick, accidentally destroys Jarron's laptop
    11·1 answer
  • The product _____ is a theoretical model that includes the stages of introduction, growth, maturity, and decline.
    5·1 answer
  • Suppose that policymakers are considering placing a tax on either of two markets. In Market A, the tax will have a significant e
    7·1 answer
  • Orion Steel is the chief provider of metals to Accline Cars, which manufactures twomodels of vehicles-cars and large buses. Accl
    11·1 answer
  • In marketing, promotion usually involves a company or organization
    11·1 answer
  • Pentagon FGHJK is similar to pentagon MPQST what is the value of x
    8·1 answer
  • When it comes to managing a corporation, the corporation relies on its board of directors and officers.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!