Statement of Stockholders\' Equity The stockholders equity T accounts of T-Cards

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Statement of Stockholders' Equity The stockholders equity T accounts of T-Cards Inc. for the year ended December 31, 20Ys, are as follows Common Stock 1,300,000 Issued 576,000 1,876,000 14,400 shares 31 Paid-In Capital in Excess of Par Balance Issued 14,400 shares115,200 208,000 14 31 323,200 Treasury Stock Aug. 7 2,400 shares Retained Earnings Mer. 31 2,260,000 une. 3O 5ept. 30 Dec. 31 Closing (Net income) 33,0 31 2,467,000 Prepare a statement of stockholders equity for the year ended December 31, 20Y9, f an amount is zero or an entry is not required, leave the box blank. I-Cards Inc. Statement of Stockholders Equity For the Year E Common Stock $40 Par Fald-In Capital In Excess of Far Treasury Stock Retained Eamings Total Balance, Jan. 1,2019 Issued 14,400 Shares of Common Stock Purchased 2,400 Shares as Treasury Stock Net Income Balence, Dec. 31, 20Ys

Explanation / Answer

I - Cards Inc Statement of Stockholders' Equity For the Year Ended December 31 , 20Y9 CommonStock,$40 par Paid-InCapital in Excessof Par Treasury Stock Retained Earnings Total Balance Jan 1 , 20Y9 $1,300,000 $208,000 $2,260,000 $3,768,000 Issued 14,400 shares of common stock 576,000 115,200 691,200 Purchased 2,400 shares as treasury stock $(88,800) (88,800) Net Income 339,000 339,000 Dividends (132,000) (132,000) Balance Dec 31 , 20Y9 $1,876,000 $323,200 $(88,800) $2,467,000 $4,577,400

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