Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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.
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 | 600,000 | |||
Apr. 14 | Issued | ||||
9,000 shares | 270,000 | ||||
Dec. 31 | Balance | 870,000 |
Paid-In Capital in Excess of Par | |||||
---|---|---|---|---|---|
Jan. 1 | Balance | 96,000 | |||
Apr. 14 | Issued | ||||
9,000 shares | 63,000 | ||||
Dec. 31 | Balance | 159,000 |
Treasury Stock | |||||
---|---|---|---|---|---|
Aug. 7 | Purchased | ||||
1,500 shares | 42,000 |
Retained Earnings | |||||
---|---|---|---|---|---|
Mar. 31 | Dividend | 15,000 | Jan. 1 | Balance | 1,040,000 |
June. 30 | Dividend | 15,000 | Dec. 31 | Closing | |
Sept. 30 | Dividend | 15,000 | (Net income) | 156,000 | |
Dec. 31 | Dividend | 15,000 | Dec. 31 | Balance | 1,136,000 |
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, 2049 Common Stock $30 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Total Balance, Jan. 1, 2049 Issued 9,000 Shares of Common Stock Purchased 1,500 Shares as Treasury Stock Net Income Dividends Balance, Dec. 31, 2049
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started