Shareholder equity

EXCALIBUR CORPORATION Statement of Shareholders' Equity For the Year Ended December 31, 2016 Total Share- holders' Equity Common Stock Retained Earnings Balance at January 1, 2016 Issue of Common stock Net income for 2016 Less: Dividends Balance at December 31, 2016 $ EXCALIBUR CORPORATION Unadjusted Trial Balance December 31, 2016 Credits Debits 23,300 32,500 0 0 65,000 75,000 Account Title Cash Accounts receivable Supplies Prepaid rent Inventory Office equipment Accumulated depreciation - office equipment Accounts payable ries and wages payable Note payable Common stock Retained earnings Sales revenue Cost of goods sold Interest expense Salaries and wages expense Rent expense Supplies expense Utility expense Totals 10,000 26,100 3,000 30,000 80,000 16,050 180,000 95,000 0 32,350 14,000 2,000 6,000 345,150 345,150 8 years A A A $ 4,500 30,000 Additional information: Useful life of office equipment purchased in 2014 Salvage value of equipment Accrued salaries and wages, year-end Cash borrowed, 9/1 Principal due in Annual interest rate Supplies on hand at year-end Prepaid rent, year-end Cash dividends paid during the year 10 years 69 69 65 10% 500 1,000 6,000