Question
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,400,000; and Retained Earnings, $12,600,000. During June,
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,400,000; and Retained Earnings, $12,600,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $12 per share. Noric reported the following results for the month ended October 31:
| Net income | $2,000,000 |
| Cash dividends declared | 455,000 |
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 | $ | $ | $ | |
| Issued Common Stock | ||||
| Net Income | ||||
| Dividends | ||||
| Balances, October 31 | $ | |||
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Elementary Statistics
Authors: Robert R. Johnson, Patricia J. Kuby
11th Edition
978-053873350, 9781133169321, 538733500, 1133169325, 978-0538733502
