Question
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
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.
Common Stock | Additional Paid-In Capital | Retained Earnings | Total | |
Balances, October 1Balances, October 31CashNet IncomeBalances, October 1 | $Balances, October 1 | $Balances, October 1 | $Balances, October 1 | Balances, October 1 |
Balances, October 1Balances, October 31CashIssued Common StockIssued Common Stock | Issued Common Stock | Issued Common Stock | Issued Common Stock | Issued Common Stock |
Balances, October 1Balances, October 31CashNet IncomeNet Income | Net Income | Net Income | Net Income | Net Income |
Balances, October 1Balances, October 31CashDividendsDividends | Dividends | Dividends | Dividends | Dividends |
Balances, October 1Balances, October 31DividendsNet IncomeBalances, October 31 | $Balances, October 31 | Balances, October 31 | Balances, October 31 |
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