Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kinkald Co is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders' equity

image text in transcribed
image text in transcribed
image text in transcribed
Kinkald 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, General Journal Debit Credit Cash 280,000 Common Stock, $25 Par Value 245,000 Paid-in Capital in excess of Par Valve Common Stock 35,000 Organization Expenses 180,000 Connon Stock $25 Par Value 128,000 Paid-in Capital in Excess of Par Value, Common Stock 52,000 Cash 43. eee Accounts Receivable Building 17,500 82,00 Notes Payable 59,900 Common Stock $25 Par Value P-to Capital in Excess of Pae Value, Common Stock 52,600 30,000 137, eBa Don S. 525 Par Value Tati Cupit in fncess of Par value. Common Stock 79.000 58,00 Required 2 many has a common stock are outstanding at year-end Water of minimum calcolatbased on Dar value at vear-end? 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 pald-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 $783,000? 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 pald-in capital at year-end? doutstanding shares Minimum legal capital Total de cada Reg 5 > 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 $783,000 Complete this question by entering your answers in the tabs below. Reg 2 to 4 Reg 5 What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $783.000 Book Value per Common Share Choose Denominator: Book Value per Common Share 1 Book value por common share 1 1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

CA FOUNDATION FINANCIAL ACCOUNTING BY NSHAH MODULE I

Authors: Sanjay Nanak Chand Thadhani

1st Edition

172887419X, 978-1728874197

More Books

Students also viewed these Accounting questions

Question

Organizing Your Speech Points

Answered: 1 week ago