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. Prepare a statement

image text in transcribedimage text in transcribed

Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders' equity for the year ended December 31, 2049. Common Stock 4,800,000 Jan. 1 Apr. 14 Balance Issued 30,000 shares Balance 1,200,000 6,000,000 Dec. 31 Paid-In Capital in Excess of Par Balance 960,000 Jan. 1 Apr. 14 Issued 300,000 30,000 shares Balance Dec. 31 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained Earnings Mar. 31 Balance 11,375,000 June 30 Dividend Dividend Dividend 69,000 Jan. 1 69,000 Dec. 31 69,0001 Closing (net income) 3.780,000 Sept. 30 Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000 If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2049 Common Stock, $40 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Total Balances, Jan. 1, 2049 $ $ Issued 30,000 shares of common stock Purchased 12,000 shares as treasury stock Net income Dividends Balances, Dec. 31, 2049

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

Statistical Audit Automation The Principles Of Statistical Sampling Of Business Accounts

Authors: Nathan Poeschl

1st Edition

B0B17YP1SR, 979-8829041991

More Books

Students also viewed these Accounting questions