Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid - In Capital, $3, 225, 000; and Retained Earnings, $13,000,000. During October, Noric issued for cash 60,000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Line Item Description Amount Net income $2,150,000 Cash dividends declared 460,000 Prepare a statement of stockholders' equity for the month ended October 31. 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. If an amount box does not require an entry, leave it blank. Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Common Stock Additional Paid - In Capital Retained Earnings Total Balances, October 1 $Balances, October 1 $Balances, October 1 SBalances, October 1 Balances, October 1 Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Net Income Net Income Net Income Net Income Net Income Dividends Dividends Dividends Dividends Dividends Balances, October 31 $Balances, October 31 Balances, October 31 Balances, October 31 Balances, October 31
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid - In Capital, $3, 225, 000; and Retained Earnings, $13,000,000. During October, Noric issued for cash 60,000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Line Item Description Amount Net income $2,150,000 Cash dividends declared 460,000 Prepare a statement of stockholders' equity for the month ended October 31. 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. If an amount box does not require an entry, leave it blank. Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Common Stock Additional Paid - In Capital Retained Earnings Total Balances, October 1 $Balances, October 1 $Balances, October 1 SBalances, October 1 Balances, October 1 Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Net Income Net Income Net Income Net Income Net Income Dividends Dividends Dividends Dividends Dividends Balances, October 31 $Balances, October 31 Balances, October 31 Balances, October 31 Balances, October 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120, 000; Additional Paid - In Capital, $3, 225, 000; and Retained Earnings, $13,000,000. During
October, Noric issued for cash 60, 000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Line Item
Description Amount Net income $2, 150, 000 Cash dividends declared 460, 000 Prepare a statement of stockholders' equity for the month ended October 31. 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. If an amount box does not require an entry, leave it blank. Noric Cruises Inc. Statement of Stockholders'
Equity For the Month Ended October 31 Line Item Description Common Stock Additional Paid - In Capital Retained Earnings Total Balances, October 1 $Balances, October 1 $Balances, October 1
$Balances, October 1 Balances, October 1 Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Net Income Net Income Net Income Net
Income Net Income Dividends Dividends Dividends Dividends Dividends Balances, October 31 $Balances, October 31 Balances, October 31 Balances, October 31 Balances, October 31
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