Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2019, are as follows. COMMON STOCK

image text in transcribed

Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2019, are as follows. COMMON STOCK Jan. 1 Balance 2,100,000 Apr. 14 Issued 18,600 shares 930,000 Dec. 31 Balance 3,030,000 336,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance Apr. 14 Issued 18,600 shares Dec. 31 Balance 223,200 559,200 TREASURY STOCK Aug. 7 Purchased 3,100 shares 148,800 3,650,000 Mar. 31 June. 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 54,000 an. 1 54,000 Dec. 31 54,000 54,000 Dec. 31 Balance Closing (Net income) Balance 548.000 3,982,000 Prepare a statement of stockholders' equity for the year ended December 31, 2019. If an amount is zero or an entry is not required, leave the box blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2019 Common Stock $50 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Total Balance, Jan. 1, 2049 Issued 18,600 shares of Common Stock Purchased 3,100 shares as Treasury Stock Net Income Dividends Balance, Dec. 31, 2019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Charles T. Horngren, Walter T. Harrison

7th Edition

0132439603, 9780132439602

More Books

Students also viewed these Accounting questions

Question

=+Explain the key responsibilities of each social media role

Answered: 1 week ago