The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9,...

  

Transcribed Image Text:

The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Aug. 7 Purchased 2,100 shares Jan. 1 Apr. 14 Dec. 31 100,800 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Apr. 14 Dec. 31 TREASURY STOCK Balance Issued 12,600 shares Balance Balance Issued 12,600 shares Balance 1,400,000 630,000 2,030,000 224,000 151,200 375,200 Mar. 31 June. 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 36,000 Jan. 1 36,000 Dec. 31 36,000 36,000 Dec. 31 Dividends Balance, Dec. 31, 20Y9 Balance, Jan. 1, 20Y9 Issued 12,600 Shares of Common Stock Purchased 2,100 Shares as Treasury Stock Net Income Balance Closing (Net income) Balance 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. 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 $ 2,440,000 366,000 2,662,000 Total The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Aug. 7 Purchased 2,100 shares Jan. 1 Apr. 14 Dec. 31 100,800 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Apr. 14 Dec. 31 TREASURY STOCK Balance Issued 12,600 shares Balance Balance Issued 12,600 shares Balance 1,400,000 630,000 2,030,000 224,000 151,200 375,200 Mar. 31 June. 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 36,000 Jan. 1 36,000 Dec. 31 36,000 36,000 Dec. 31 Dividends Balance, Dec. 31, 20Y9 Balance, Jan. 1, 20Y9 Issued 12,600 Shares of Common Stock Purchased 2,100 Shares as Treasury Stock Net Income Balance Closing (Net income) Balance 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. 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 $ 2,440,000 366,000 2,662,000 Total

Answer rating: 100% (QA)

Common Stock Jan 1 20Y9 1400000 Issued 12600 Shares of Common Stock 12600 shares 50 par value 630000 ... View the full answer