Below are details relating to balances for the equity accounts of Paras Company,and changes to those balances.Note that AOCI is accumulated other comprehensive income.
Requirement:
Prepare a statement of changes in equity for the years ended December 31,2012.
Definitions:
Compounded Quarterly
The process of calculating interest on a principal amount at a specified interest rate, with the interest being added to the principal at the end of every three months.
End-Of-Quarter Payments
Payments that are made at the end of each quarter, typically in a financial or leasing agreement.
Monthly Payments
Regular payments made once a month, commonly in the context of loans, rent, or other agreements.
Present Value
The present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return.
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