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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
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 270,000 Credit General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock a. 235,000 35,000 b. 180,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 130,000 50,000 c. 45,500 17,000 82,100 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,800 54,800 30,000 d. 129,000 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 78,000 51,000 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 $795,000? Complete this question by entering your answers in the tabs below. 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 Minimum legal capital Total paid-in capital Reg 2 to 4 Req5 > Complete this question by entering your answers in the tabs below. Reg 2 to 4 Req 5 What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $795,000? Book Value per Common Share 1 Choose Denominator: Choose Numerator: = Book Value per Common Share Book value per common share Req 2 to 4 Reg 5
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