question archive The stockholders’ equity T accounts of I-Cards Inc
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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 4,800,000
Apr. 14 Issued 30,000 shares 1,200,000
Dec. 31 Balance 6,000,000
Paid-in Capital in Excess of Par
Jan. 1 Balance 960,000
Apr. 14 Issued 30,000 shares 300,000
Dec. 31 Balance 1,260,000
Treasury Stock
Aug. 7 Purchased 12,000 shares 552,000
Retained Earnings
Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000
June 30 Dividend 69,000
Sept. 30 Dividend 69,000 Dec. 31 Closing (net income) 3,780,000
Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000
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.