The stockholders equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9,...

90.2K

Verified Solution

Question

Accounting

The stockholders equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows.

Common Stock
Jan. 1 Balance 4,800,000
Apr. 14 Issued 30,000 shares 1,200,000
Dec. 31 Balance 6,000,000
Paid-in Capital in Excess of Par
Jan. 1 Balance 960,000
Apr. 14 Issued 30,000 shares 300,000
Dec. 31 Balance 1,260,000
Treasury Stock
Aug. 7 Purchased 12,000 shares 552,000
Retained Earnings
Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000
June 30 Dividend 69,000
Sept. 30 Dividend 69,000 Dec. 31 Closing (net income) 3,780,000
Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000

Prepare a statement of stockholders equity for the year ended December 31, 20Y9 using the table provided. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students