Oxygen Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its shareholders' equity during its first year of operations.

1. Explain the transaction(s) underlying each journal entry (a) through (d).

2. How many ordinary shares are outstanding at year-end?

3. What is the total share capital (contributed capital) at year-end?

4. What is the book value per share of the ordinary shares at year-end if total share capital plus retained earnings equals $347,500?

Problem 13-1A Oxygen Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its shareholders' equity during its first year of operations. 150,000 125,000 25,000 75,000 62,500 12,500 Cash ........ Share Capital Ordinary, $25 Par Value ...... Share Premium-Ordinary .......... Organization Expenses .. Share Capital-Ordinary, $25 Par Value Share Premium-Ordinary .......... Cash ................ Accounts Receivable Building Notes Payable ....... Share Capital - Ordinary, $25 Par Value .. Share Premium-Ordinary ..... Cash ..... Share Capital-Ordinary, $25 Par Value Share Premium-Ordinary 21,500 7,500 30,000 19,000 25,000 15,000 60,000 37,500 22,500 Required 1. Explain the transaction(s) underlying each journal entry (a) through (d). 2. How many ordinary shares are outstanding at year-end? 3. What is the total share capital (contributed capital) at year-end? 4. What is the book value per share of the ordinary shares at year-end if total share capital plus retained earnings equals $347,500