80.2K

Verified Solution

Link Copied!

Statement of Stockholders' Equity

The stockholders equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows.

Common Stock
			Jan. 1	Balance	2,100,000
			Apr. 14	Issued
				18,600 shares	930,000
			Dec. 31	Balance	3,030,000

Paid-In Capital in Excess of Par
			Jan. 1	Balance	336,000
			Apr. 14	Issued
				18,600 shares	223,200
			Dec. 31	Balance	559,200

Treasury Stock
Aug. 7	Purchased
	3,100 shares	148,800

Retained Earnings
Mar. 31	Dividend	54,000	Jan. 1	Balance	3,650,000
June. 30	Dividend	54,000	Dec. 31	Closing
Sept. 30	Dividend	54,000		(Net income)	548,000
Dec. 31	Dividend	54,000	Dec. 31	Balance	3,982,000

Prepare a statement of stockholders equity for the year ended December 31, 20Y9. If an amount is zero or an entry is not required, leave the box blank.

I-Cards Inc.
Statement of Stockholders Equity
For the Year Ended December 31, 20Y9
	Common Stock $50 Par	Paid-In Capital in Excess of Par	Treasury Stock	Retained Earnings	Total
Balance, Jan. 1, 20Y9	$	$	$	$	$
Issued 18,600 Shares of Common Stock
Purchased 3,100 Shares as Treasury Stock			$
Net Income
Dividends
Balance, Dec. 31, 20Y9	$	$	$	$	$

Answer & Explanation Solved by verified expert

See Answer