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. COMMON STOCK Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 6,000,000 Dec. 31 Balance 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 Dividend Jan. 1 Balance Mar. 31 69,000 11,375,000 Dividend Closing (net income) June 30 69,000 Dec. 31 Sept. 30 Dividend 69,000 3,780,000 Dec. 31 Dec. 31 Dividend Balance 69,000 14,879,000
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. COMMON STOCK Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 6,000,000 Dec. 31 Balance 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 Dividend Jan. 1 Balance Mar. 31 69,000 11,375,000 Dividend Closing (net income) June 30 69,000 Dec. 31 Sept. 30 Dividend 69,000 3,780,000 Dec. 31 Dec. 31 Dividend Balance 69,000 14,879,000
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 22E
Related questions
Question
![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.
COMMON STOCK
Jan. 1 Balance
4,800,000
Apr. 14 Issued
30,000 shares
1,200,000
6,000,000
Dec. 31 Balance
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
Dividend
Jan. 1 Balance
Mar. 31
69,000
11,375,000
Dividend
Closing
(net income)
June 30
69,000
Dec. 31
Sept. 30
Dividend
69,000
3,780,000
Dec. 31
Dec. 31
Dividend
Balance
69,000
14,879,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feffbc21a-fa53-428c-bdbe-e74e1a9eb327%2F00daaca5-dd2b-4df8-821d-e084d29c3410%2Fw5oldcv.jpeg&w=3840&q=75)
Transcribed Image Text: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.
COMMON STOCK
Jan. 1 Balance
4,800,000
Apr. 14 Issued
30,000 shares
1,200,000
6,000,000
Dec. 31 Balance
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
Dividend
Jan. 1 Balance
Mar. 31
69,000
11,375,000
Dividend
Closing
(net income)
June 30
69,000
Dec. 31
Sept. 30
Dividend
69,000
3,780,000
Dec. 31
Dec. 31
Dividend
Balance
69,000
14,879,000
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