Statement of stockholders’ equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid-In Capital, $3,300,000; and Retained Earnings, $12,300,000. During June, Noric issued for cash 30,000 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 $2,250,000 Cash dividends declared 475,000 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 Common Stock Additional Paid-In Capital Retained Earnings Total $Balances, October 1 $Balances, October 1 $Balances, October 1 Balances, October 1 Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Net Income Net Income Net Income Net Income Dividends Dividends Dividends Dividends $Balances, October 31 Balances, October 31 Balances, October 31 Balances, October 31
Statement of stockholders’ equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid-In Capital, $3,300,000; and Retained Earnings, $12,300,000. During June, Noric issued for cash 30,000 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 $2,250,000 Cash dividends declared 475,000 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 Common Stock Additional Paid-In Capital Retained Earnings Total $Balances, October 1 $Balances, October 1 $Balances, October 1 Balances, October 1 Issued Common Stock Issued Common Stock Issued Common Stock Issued Common Stock Net Income Net Income Net Income Net Income Dividends Dividends Dividends Dividends $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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Question
Statement of
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $120,000; Additional Paid-In Capital, $3,300,000; and
| Net income | $2,250,000 |
| Cash dividends declared | 475,000 |
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.
Statement of Stockholders' Equity
For the Month Ended October 31
Common Stock |
Additional Paid-In Capital |
Retained Earnings |
Total |
|
|
|
$Balances, October 1 | $Balances, October 1 | $Balances, October 1 | Balances, October 1 |
|
|
Issued Common Stock | Issued Common Stock | Issued Common Stock | Issued Common Stock |
|
|
Net Income | Net Income | Net Income | Net Income |
|
|
Dividends | Dividends | Dividends | Dividends |
|
|
$Balances, October 31 | Balances, October 31 | Balances, October 31 | Balances, October 31 |
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