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 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 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 $ $ $ $ $

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

Auditing An International Approach

Authors: Bahram Soltani

1st Edition

9780273657736

More Books

Students also viewed these Accounting questions