Question

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

COMMON STOCK
			Jan. 1	Balance	1,400,000
			Apr. 14	Issued
				15,600 shares	624,000
			Dec. 31	Balance	2,024,000

PAID-IN CAPITAL IN EXCESS OF PAR
			Jan. 1	Balance	224,000
			Apr. 14	Issued
				15,600 shares	124,800
			Dec. 31	Balance	348,800

TREASURY STOCK
Aug. 7	Purchased
	2,600 shares	96,200

RETAINED EARNINGS
Mar. 31	Dividend	36,000	Jan. 1	Balance	2,440,000
June. 30	Dividend	36,000	Dec. 31	Closing
Sept. 30	Dividend	36,000		(Net income)	366,000
Dec. 31	Dividend	36,000	Dec. 31	Balance	2,662,000

Prepare a 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. Also, if an amount reduces Stockholders' Equity, then add "minus" sign.

I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2019 Common Stock $40 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Total Balance, Jan. 1, 2019 Issued 15,600 shares of Common Stock Purchased 2,600 shares as Treasury Stock Net Income Dividends Balance, Dec. 31, 2019 $ $ $

Answer 1

Balances, Jan 1 2049 Issued 15,600 Shares of common stock Purchase 2,600 shares of Treasury stock Net Income Dividends Balances, Dec 31, 2049 I-Cards Inc. Statement of Stockholder's Equity For the year ended December 31, 2049 Common Stock Paid-in capital in excess of par Retained Earnings Treasury Stock Total stockholder's equity $ 1,400,000 $ 224,000 $ 2,440,000 $ 4,064,000 $ 624,000 $ 124,800 $ 748,800 $ (96,200) $ (96,200) $ 366,000 $ 366,000 $ (144,000) $ (144,000) $ 2,024,000 $ 348,800 $ 2,662,000 $ (96,200 $ 4,938,600 Note : Please comment down for any further clarifications