The stockholders equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2016, are
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Question:
The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2016, are as follows.
Common Stock | |||
Jan. 1 Balance | 5,265,000 | ||
Apr. 14 Issued 33,000 shares | 1,287,000 | ||
Dec. 31 Balance | 6,552,000 |
Paid-in Capital in Excess of Par | |||
Jan. 1 Balance | 1,080,000 | ||
Apr. 14 Issued 33,000 shares | 330,000 | ||
Dec. 31 Balance | 1,410,000 |
Treasury Stock | |||
Aug. 7 Purchased 12,500 shares | 550,000 |
Retained Earnings | |||
Mar. 31 Dividend | 74,900 | Jan. 1 Balance | 12,496,100 |
June 30 Dividend | 74,900 | ||
Sept. 30 Dividend | 74,900 | Dec. 31 Closing (net income) | 3,522,700 |
Dec. 31 Dividend | 74,900 | Dec. 31 Balance | 15,719,200 |
Prepare a statement of stockholders’ equity for the fiscal year ended December 31, 2016 using the table provided. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Amount Descriptions
Amount Descriptions | |
Balance, December 31, 2016 | |
Balance, January 1, 2016 | |
Decrease in retained earnings | |
Dividends | |
For the Year Ended December 31, 2016 | |
Increase in retained earnings | |
Issued 33,000 shares of common stock | |
Net income | |
Net loss | |
Purchased 12,500 shares as treasury stock |
Statement of Stockholders’ Equity
Prepare a statement of stockholders’ equity for the fiscal year ended December 31, 2016 using the table provided. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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