roblem 13 1A Stockholders' equity transactions and analysis LO C2, P1 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 General Journal Debit Credit a Cash 280,000 Common Stock, $25 Par Value 225,000 Paid In Capital in Excess of Par Value, Common Stock 55,000 b Organization Expenses 170,000 Common Stock, $25 Par Value 127,000 Paid In Capital in Excess of Par Value, Common Stock 43,000 c Cash 45,000 Accounts Receivable 17,000 Building 82,500 Notes Payable 59,700 Common Stock, $25 Par Value 54,800 Paid In Capital in Excess of Par Value, Common Stock 30,000 d Cash 143,000 Common Stock, $25 Par Value 80,000 Paid In Capital in Excess of Par Value, Common Stock 63,000 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 $780,000 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 What is the book value per share of the common stock at year end if total paid in capital plus retained earnings equals $780,000 Book Value per Common Share Choose Numerator Choose Denominator Book Value per Common Share Book value per common share

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 17, 2024

roblem 13-1A Stockholders' equity transactions and analysis LO C2, P1 Kinkaid Co. is incorporated at the beginning of this year and engages in a number

roblem 13-1A Stockholders' equity transactions and analysis LO C2, P1

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.

	General Journal	Debit	Credit
a.	Cash	280,000
	Common Stock, $25 Par Value		225,000
	Paid-In Capital in Excess of Par Value, Common Stock		55,000

b.	Organization Expenses	170,000
	Common Stock, $25 Par Value		127,000
	Paid-In Capital in Excess of Par Value, Common Stock		43,000

c.	Cash	45,000
	Accounts Receivable	17,000
	Building	82,500
	Notes Payable		59,700
	Common Stock, $25 Par Value		54,800
	Paid-In Capital in Excess of Par Value, Common Stock		30,000

d.	Cash	143,000
	Common Stock, $25 Par Value		80,000
	Paid-In Capital in Excess of Par Value, Common Stock		63,000

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 $780,000?

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?