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Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,325,000; and Retained Earnings, $12,500,000. During October, Noric issued for cash 50,000 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: Net income Cash dividends declared 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. $2,350,000 475,000 Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Balances, October 1 issued Common Stock Net Income Dividends Balances, October 31 Common Stock Additional Paid-In Capital Retained Earnings Total

Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,325,000; and Retained Earnings, $12,500,000. During October, Noric issued for cash 50,000 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: Net income Cash dividends declared 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. $2,350,000 475,000 Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Balances, October 1 issued Common Stock Net Income Dividends Balances, October 31 Common Stock Additional Paid-In Capital Retained Earnings Total

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,325,000; and Retained Earnings, $12,500,000. During October, Noric issued for cash 50,000 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: Net income Cash dividends declared 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. $2,350,000 475,000 Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Balances, October 1 issued Common Stock Net Income Dividends Balances, October 31 Common Stock Additional Paid-In Capital Retained Earnings Total
Transcribed Image Text:Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,325,000; and Retained Earnings, $12,500,000. During October, Noric issued for cash 50,000 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: Net income Cash dividends declared 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. $2,350,000 475,000 Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Line Item Description Balances, October 1 issued Common Stock Net Income Dividends Balances, October 31 Common Stock Additional Paid-In Capital Retained Earnings Total
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