Question

Statement of Stockholders' Equity

The stockholders’ equity T accounts of I-Cards Inc. for the 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
			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	Dec. 31	Closing
Sept. 30	Dividend	69,000		(net income)	3,780,000
Dec. 31	Dividend	69,000
			Dec. 31	Balance	14,879,000

If an amount is zero or an entry is not required, leave the box blank. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign.

I-Cards Inc.
Statement of Stockholders' Equity
For the Year Ended December 31, 20Y9
	Common Stock, $40 Par	Paid-In Capital in Excess of Par	Treasury Stock	Retained Earnings	Total
Balances, Jan. 1, 20Y9	$	$	$	$	$
Issued 30,000 shares of common stock
Purchased 12,000 shares as treasury stock
Net income
Dividends
Balances, Dec. 31, 20Y9	$	$	$	$	$

Answer 1