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

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Statement Of Stockholders Equity Noric Cruises Inc Began The Month Of October With The Following Balances Common Stoc 1 (89.06 KiB) Viewed 9 times

Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,325,000; and Retained Earnings, $12,300,000. During October, 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 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. Line Item Description Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31 Balances, October 1 Issued Common Stock Net Income $2,100,000 500,000 Dividends Balances, October 31 Common Stock Additional Paid-In Capital Retained Earnings Total
Entries for stock dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life's balance sheet: Common stock (340,000 shares authorized; 3,000 shares issued), $25 par, $75,000; Paid-In Capital in excess of par-common stock, $9,000; and Retained earnings, $825,000. The board of directors declared a 1% stock dividend when the market price of the stock was $32 a share. Healthy Life reported no income or loss for the current year. If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Account Debit Credit Stock Dividents Stock Dividents Distributable Paid-In Capital in Excess of Par-Common Stock a2. Journalize the entry to record the issuance of the stock certificates. Account Debit Credit Stock Dividents Common Stock b. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital Total retained earnings $ Total stockholders' equity $ c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital Total retained earnings $ Total stockholders' equity $