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 a. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 250, eee 20, eee b. 150,000 Organization Expenses Connon Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 125, eee 25,000 43.500 16,000 81,700 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,800 51.400 30,000 d. 147,000 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 80,000 67.ee 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 $798,000? Complete this question by entering your answers in the tabs below. Reg 2 to 4 Reg 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 Total paid in capital Res > 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 $798,000? Complete this question by entering your answers in the tabs below. Reg 2 to 4 Req5 What is the book value per share of the common stock at year-end if total pald-in capital plus retained earnings equals $798,000 Book Value per Common Share Choose Denominator: Choose Numerator: - Book Value per Common Share Book value per common share Kohler Corporation reports the following components of stockholders' equity on December 31, 2016: Common stock-$15 par value, 100,000 shares authorized, 155,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 825,000 80,000 430,000 1,335,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1Purchased 6,000 shares of its own stock at $20 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 2,250 of its treasury shares at $24 cash per share. Aug. 22 Sold 3,758 of its treasury shares at $17 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $428,000 credit balance (tron net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions for 2017. 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 View transaction list Journal entry worksheet Record the purchase of 6,000 shares of its own common stock for $20 cash Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. View transaction list Journal entry worksheet 2 3 4 5 Record the purchase of 6,000 shares of its own common stock for $20 cash per share. Note: Enter debits before credits General Journal Debit Credit Date Jan 01 Record entry Clear entry View general journal 4. Pre Urdu ayol yel U VELE , LUI. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. View transaction fist Journal entry worksheet Record the declaration of a cash dividend of $2 per share. Notes Enter debits before credits Date Jan 05 General de 31 11 Record entry Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017 View transaction list Journal entry worksheet
