Question

Chapter 12 - 11

Statement of The owners' equity in a corporation.Stockholders' Equity

The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows.

Common Stock
			Jan. 1	Balance	1,700,000
			Apr. 14	Issued
				15,600 shares	780,000
			Dec. 31	Balance	2,480,000

Paid-In Capital in Excess of Par
			Jan. 1	Balance	272,000
			Apr. 14	Issued
				15,600 shares	187,200
			Dec. 31	Balance	459,200

Treasury Stock
Aug. 7	Purchased
	2,600 shares	124,800

Retained Earnings
Mar. 31	Dividend	44,000	Jan. 1	Balance	2,960,000
June. 30	Dividend	44,000	Dec. 31	Closing
Sept. 30	Dividend	44,000		(Net income)	444,000
Dec. 31	Dividend	44,000	Dec. 31	Balance	3,228,000

Prepare a A summary of the changes in the stockholders' equity in a corporation that have occurred during a specific period of time.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.

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	Total
Balance, Jan. 1, 20Y9	$	$	$	$	$
Issued 15,600 Shares of Common Stock
Purchased 2,600 Shares as Treasury Stock			$
Net Income
Dividends
Balance, Dec. 31, 20Y9	$	$	$	$	$

Answer 1

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	Total
Balance, Jan. 1, 20Y9	$1,700,000	$272,000	0	$2,960,000	$4,932,000
Issued 15,600 Shares of Common Stock	$780,000	$187,200			$967,200
Purchased 2,600 Shares as Treasury Stock			$124,800		$124,800
Net Income				$444,000	$444,000
Dividends				$176000 (44000*4)	$176,000
Balance, Dec. 31, 20Y9	$2,480,000	$459,200	$124,800	$3,228,000	$6,292,000