Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The stockholders equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders equity
The stockholders equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows.
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 Jan. 1 1,000,000 Apr. 14 Balance Issued 9,000 shares Balance 450,000 1,450,000 Dec. 31 PAID-IN CAPITAL IN EXCESS OF PAR 160,000 Jan. 1 Apr. 14 Balance Issued 9,000 shares Balance 108,000 268,000 Dec. 31 TREASURY STOCK Aug. 7 Purchased 1,500 shares 72,000 RETAINED EARNINGS 1,740,000 Mar. 31 June. 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend 26,000 Jan. 1 26,000 Dec. 31 26,000 26,000 Dec. 31 Balance Closing (Net income) Balance 261,000 1,897,000 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 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