Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Saved D ok Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its

image text in transcribed
image text in transcribed
image text in transcribed
Saved D ok Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. General Journal Debit Credit a. Cash 260,000 Common Stock, $25 Par Value 250,000 Paid-in capital in Excess of Par Value, Common Stock 10,000 b. Organization Expennen 180,000 Common Stock, $25 Par Value 126,000 Paid-In Capital in Excess of Par Value, Common Stock 54,000 Cash Accounts Receivable 16,500 Building 82.000 Notes Payable 59,800 Comon stock, $25 Par Value 53,200 Paid In Capital in Exoen of Par Value, Common Stock 30,000 d. Cash 137,000 Pald-in capital in excess of par value, common stock 75.000 62,000 c. 44,500 Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid in capital at year-end? 4. What is the book value per share of the common stock at year-end if total pald-in capital plus retained earnings equals $791,000? Required: 2. How many shares of common stock are outstanding at 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock Complete this question by entering your answers in Req 2 and 3 Reg 4 How many shares of common stock are outstanding at year 2. Number of outstanding shares 3. Total paid-in capital 3 Rec 2 and .docx Complete this question by entering your answers in the tabs below. Reg 2 and 3 Reg 4 What is the book value per share of the common stock at year-end if total pald-in capital plus retained earnings equals $791,000? Book Valve per Common Share Choose Numerator: 1 Choose Denominator: Book Value per Common Share Book Value per common share

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

Step: 3

blur-text-image

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

Accounting A Smart Approach

Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark

3rd Edition

0198745133, 978-0198745136

More Books

Students also viewed these Accounting questions

Question

If you were Akio, what would you do now?

Answered: 1 week ago