Question

Statement of stockholders’ equity Noric Cruises Inc. began the month of October with the following balances:...

Statement of stockholders’ equity

Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,125,000; and Retained Earnings, $12,200,000. 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 450,000

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
$ $ $
$
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

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
Beginning balance $140000 $3125000 $12200000 15465000
Addition 30000 510000 540000
Net income 2250000 2250000
Dividend -450000 -450000
Ending balance $170000 3635000 14000000 17805000
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Prepare a statement of stockholders’ equity for the year ended December 31, 20Y9. Common Stock Jan. 1 Balance 4,800,000 Apr. 14 Issued 30,000 shares 1,200,000 Dec. 31 Balance 6,000,000 Paid-In Capital in Excess of Par Jan. 1 Balance 960,000 Apr. 14 Issued 30,000 shares 300,000 Dec. 31 Balance 1,260,000 Treasury Stock Aug. 7 Purchased 12,000 shares 552,000 Retained...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Jan. 1 Balance 1,800,000 Apr. 14 Issued 16,200 shares 810,000 Dec. 31 Balance 2,610,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 288,000 Apr. 14 Issued 16,200 shares 194,400 Dec. 31 Balance 482,400 TREASURY STOCK Aug. 7 Purchased 2,700 shares 129,600 RETAINED EARNINGS Mar. 31 Dividend 46,000 Jan. 1 Balance 3,130,000 June. 30 Dividend...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended...
Statement of Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 800,000 Apr. 14 Issued 9,000 shares 360,000 Dec. 31 Balance 1,160,000 Paid-In Capital in Excess of Par Jan. 1 Balance 128,000 Apr. 14 Issued 9,000 shares 72,000 Dec. 31 Balance 200,000 Treasury Stock Aug. 7 Purchased 1,500 shares 55,500 Retained Earnings Mar. 31 Dividend 20,000 Jan. 1 Balance 1,390,000 June. 30 Dividend 20,000...
Average Common Stockholders' Equity, Return on Stockholders' Equity Rebert Inc. showed the following balances for last...
Average Common Stockholders' Equity, Return on Stockholders' Equity Rebert Inc. showed the following balances for last year: January 1 December 31 Stockholders' equity: Preferred stock, $100 par, 8% . $ 4,000,000 $ 4,000,000 Common stock, $3 par 3,000,000 3,000,000 Additional paid-in capital* 4,800,000 4,800,000 Retained earnings 4,000,000 4,250,000 Total stockholders' equity $15,800,000 $16,050,000 * For common stock only. Rebert's net income for last year was $3,182,000. Required: 1. Calculate the average common stockholders' equity. $______ 2. Calculate the return on...
Average Common Stockholders' Equity, Return on Stockholders' Equity Rebert Inc. showed the following balances for last...
Average Common Stockholders' Equity, Return on Stockholders' Equity Rebert Inc. showed the following balances for last year: January 1 December 31 Stockholders' equity: Preferred stock, $100 par, 8% $ 4,000,000 $ 4,000,000 Common stock, $3 par 3,000,000 3,000,000 Additional paid-in capital* 4,800,000 4,800,000 Retained earnings 4,000,000 4,250,000 Total stockholders' equity $15,800,000 $16,050,000 * For common stock only. Rebert's net income for last year was $3,182,000. Required: 1. Calculate the average common stockholders' equity. $ 2. Calculate the return on stockholders'...
Chapter 12 - 11 Statement of The owners' equity in a corporation.Stockholders' Equity The stockholders’ equity...
Chapter 12 - 11 Statement of The owners' equity in a corporation.Stockholders' Equity The stockholders’ equity T accounts of I-Cards Inc. for the year ended December 31, 20Y9, are as follows. Common Stock Jan. 1 Balance 1,700,000 Apr. 14 Issued 15,600 shares 780,000 Dec. 31 Balance 2,480,000 Paid-In Capital in Excess of Par Jan. 1 Balance 272,000 Apr. 14 Issued 15,600 shares 187,200 Dec. 31 Balance 459,200 Treasury Stock Aug. 7 Purchased 2,600 shares 124,800 Retained Earnings Mar. 31 Dividend...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2015:    Common stock—$20 par...
Kohler Corporation reports the following components of stockholders’ equity on December 31, 2015:    Common stock—$20 par value, 100,000 shares authorized, 45,000 shares issued and    outstanding $ 900,000      Paid-in capital in excess of par value, common stock 70,000      Retained earnings 370,000      Total stockholders’ equity $ 1,340,000   In year 2016, the following transactions affected its stockholders’ equity accounts. Jan. 1 Purchased 4,500 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $4 per share cash dividend...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock,...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock, par value $10: authorized 30,000 shares; issued and outstanding 15,000 shares Additional paid-in-capital $110,000 Retained earnings 200,000 On September 1, 2021, Campbell declared a 30% stock dividend, and accordingly issued additional shares, when the far value of the stock was $18 per share. For the year ended December 31, 2021, Campbell sustained a net loss of $50,000. The balance of Campbell’s retained earnings as...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock,...
On December 31, 2020, the stockholders’ equity section of Campbell, Inc., was as follows: Common stock, par value $10: authorized 30,000 shares; issued and outstanding 15,000 shares Additional paid-in-capital                                   $110,000 Retained earnings                                                200,000 On September 1, 2021, Campbell declared a 30% stock dividend, and accordingly issued additional shares, when the far value of the stock was $18 per share. For the year ended December 31, 2021, Campbell sustained a net loss of $50,000. The balance of Campbell’s retained earnings as...
On December 31, 2017, the stockholders' equity section of Arndt, Inc., was as follows: Common stock,...
On December 31, 2017, the stockholders' equity section of Arndt, Inc., was as follows: Common stock, par value $10; authorized 30,000 shares; issued and outstanding 9,000 shares $ 90,000 Additional paid-in capital 116,000 Retained earnings 194,000 Total stockholders' equity $400,000 On March 31, 2018, Arndt declared a 15% stock dividend, and accordingly 1,350 additional shares were issued, when the fair value of the stock was $20 per share. For the three months ended March 31, 2018, Arndt recorded a net...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT