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 fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK
Statement of Stockholders' Equity
The stockholders equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows.
COMMON STOCK | |||||
---|---|---|---|---|---|
Jan. 1 | Balance | 1,200,000 | |||
Apr. 14 | Issued | ||||
10,800 shares | 540,000 | ||||
Dec. 31 | Balance | 1,740,000 |
PAID-IN CAPITAL IN EXCESS OF PAR | |||||
---|---|---|---|---|---|
Jan. 1 | Balance | 192,000 | |||
Apr. 14 | Issued | ||||
10,800 shares | 129,600 | ||||
Dec. 31 | Balance | 321,600 |
TREASURY STOCK | |||||
---|---|---|---|---|---|
Aug. 7 | Purchased | ||||
1,800 shares | 86,400 |
RETAINED EARNINGS | |||||
---|---|---|---|---|---|
Mar. 31 | Dividend | 31,000 | Jan. 1 | Balance | 2,090,000 |
June. 30 | Dividend | 31,000 | Dec. 31 | Closing | |
Sept. 30 | Dividend | 31,000 | (Net income) | 314,000 | |
Dec. 31 | Dividend | 31,000 | Dec. 31 | Balance | 2,280,000 |
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. Also, if an amount reduces Stockholders' Equity, then add "minus" sign.
Common Stock $50 Par | Paid-In Capital in Excess of Par | Treasury Stock | Retained Earnings | Total | |
Balance, Jan. 1, 20Y9 | $fill in the blank 1 | $fill in the blank 2 | $fill in the blank 3 | $fill in the blank 4 | $fill in the blank 5 |
Issued 10,800 Shares of Common Stock | fill in the blank 6 | fill in the blank 7 | fill in the blank 8 | fill in the blank 9 | fill in the blank 10 |
Purchased 1,800 Shares as Treasury Stock | fill in the blank 11 | fill in the blank 12 | fill in the blank 13 | fill in the blank 14 | fill in the blank 15 |
Net Income | fill in the blank 16 | fill in the blank 17 | fill in the blank 18 | fill in the blank 19 | fill in the blank 20 |
Dividends | fill in the blank 21 | fill in the blank 22 | fill in the blank 23 | fill in the blank 24 | fill in the blank 25 |
Balance, Dec. 31, 20Y9 | $fill in the blank 26 | $fill in the blank 27 | $fill in the blank 28 | $fill in the blank 29 | $fill in the blank 30 |
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