11 Ex 1

Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations Debit 290,000 General Journal Credit a. Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 250,000 40,000 b Organization Expenses 170,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 126,000 44,000 44,500 19,500 83,000 c. Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,900 57,100 30,000 d Cash 132,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 76,000 56,000 Required 2. How many shares of common stock are outstanding at year-end? 3. What is the amount of minimum legal capital (based on par value) at year-end? 4. What is the total paid-in capital at year-end? 5. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $789,000? Req 2 to 4 Req 5 How many shares of common stock are outstanding at year-end? What is the amount of minimum legal capital (based on par value) at year-end? What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Minimum legal capital 4. Total paid-in capital Req 2 to 4 Req 5 > Reg 2to 4Req 5 What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $789,000? Choose Numerator: Choose Denominator: Book Value per Common Share Book value per common share Req 2 to 4 Req 5X