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8 August, 13:00

Splish Brothers Inc. began the year 2022 with $151200 in its Common Stock account and a debit balance in Retained Earnings of $64800. During the year, the company earned net income of $32400, and declared and paid $10800 of dividends. In addition, the company sold additional common stock amounting to $39600. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of 2022?

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  1. 8 August, 13:26
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    Equity will icnrease by 61,200 dollars

    Explanation:

    Common Stock Ret Earings Total

    Balance Jan 1 151,200 - 64,800 86,400

    Net Earnings 32,400 32,400

    Dividends - 10,800 - 10,800

    Stock issued 39,600 39,600

    Balance, Dec 31 190,800 - 43,200 147,600

    The net change in equity will be:

    147,600 - 86,400 = 61,200
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Home » Business » Splish Brothers Inc. began the year 2022 with $151200 in its Common Stock account and a debit balance in Retained Earnings of $64800. During the year, the company earned net income of $32400, and declared and paid $10800 of dividends.
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