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The following account balances appear in the 2015 adjusted trial balance of Diamond

The following account balances appear in the 2015 adjusted trial balance of

Diamond Corporation: Common Stock, $21,000; Retained Earnings, $8,000; Dividends,

$2,000; Service Revenue, $30,000; Salaries Expense, $13,000; and Utilities Expense,

$7,000. No common stock was issued during the year. Prepare the statement of

stockholders’ equity for the year ended December 31, 2015.

 

 

 

173. The following is selected financial information for Osmond Dental Laboratories for 2015 and 2016:

 

 

2015

2016

Retained earnings, January 1

$53,000

?

Net income

37,000

42,000

Dividends declared and paid

15,000

18,000

Common stock

70,000

?


Osmond issued 2,000 shares of additional capital stock in 2016 for $20,000. There were no other capital transactions. Prepare a statement of stockholders’ equity for the year ended December 31, 2016.

Jan 27 2020 View more View Less

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