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nlexa [21]
2 years ago
8

Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $

3,225,000; and Retained Earnings, $12,400,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $16 per share. Noric reported the following results for the month ended October 31: Net income $2,350,000 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.
Business
1 answer:
Art [367]2 years ago
4 0

Answer:

The statement of stockholders’ equity for the month ended October 31 is $18,450,000.

Explanation:

Noric Cruises Inc.

Statement of stockholders’ equity for the month ended October 31

                                 Common stock    Paid-In Capital    Retained Earnings

Opening balance         $150,000              $3,225,000          $12,400,000

Addition                         800,000                        -                               -

Net income                           -                               -                    $2,350,000

Cash dividends                    -                                -                        (475,000)

Balance at Oct 31        $950,000    $3,225,000    $14,275,000

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The entry to replenish the petty cash fund will include a credit to cash for $385.

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When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.

The entry to replenish the petty cash fund amount will include:

Fund amount : $450 - Used

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cash on hand - remaining ; $68 - $65 = $3

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8 0
1 year ago
Qucation
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As a result of the record amount of grapes, the equilibrium price decreases while the equilibrium quantity increases. Please find attached the required graph.

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3 0
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Fifteen married couples are at a dance lesson, but now only five men and five women are selected at random, then randomly paired
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Answer:

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= [\frac{15\times14\times13\times12\times11\times10!}{5\times4\times3\times2\times1\times10!}]^2 × ( 5 × 4 × 3 × 2 × 1 )

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Answer:

C. order-to-payment cycle

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