Statement of Stockholders\' Equlty The stockholders\' equity T accounts of I-Car

Question

Statement of Stockholders' Equlty The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Balance Issued 13,200 shares Balance 1,200,000 14 52B 000 1,728,000 31 PAID-IN CAPITAL IN EXCESS OF PAR Balance Issued 13,200 shares Balance 192,000 14 105.600 31 297,600 TREASURY STOCK Aug. 7 2,200 shares 81 RETAINED EARNINGS Mar. 31 June. 30 Sept. 30 Dec. 31 Balance Closing (Net Income) Balance 2,090,000 31,000 Jan. 1 31,000 Dec. 31 31 31,000 Dec. 31 2,280,000

Explanation / Answer

Statement of stockholder' equity

Common Stock $40 par Paid in capital in excess of par Treasury stock Retained earnings Total Balance jan 1,20Y9 1200000 192000 2090000 3482000 Issued 13200 shares of common Stock 528000 105600 633600 Purchased 2200 shares as treasury stock -81400 -81400 Net income 314000 314000 Dividends -124000 -124000 Balance dec 31,20Y9 1728000 297600 -81400 2280000 4224200

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