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they are all part of one problem, which is why they say part 2,3,4.... part 2 is a journal and the first picture was the
they are all part of one problem, which is why they say part 2,3,4.... part 2 is a journal and the first picture was the beginning information of the entire serial problem.
i will repost it so it is attempted
Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is from Derr's sole proprietorship. The market value of Derr's equipment is $5,800 and the market value of land is $8,800. Balance Sheet $ 5,300 3.900 9,200 Assets Cash Supplies Equipment Accumulated depreciation-Equip. Land Total assets $ 1,800 3,800 $ 15,000 (12,200) 2.800 4,800 $ 13,200 Llabilities Accounts payablo Notes payable Total liabilities Equity M. Derr, Capital Total liabilities and equity 4,000 $ 13,200 Meir, Benson, and Lau are partners and share income and loss in a 1:4.5 ratio (in percents: Meir, 10%Benson, 40%; and Lau, 50%). The partnership's capital balances are as follows: Meir, $28,000; Benson, $119,000; and Lau, $153,000. Benson decides to withdraw from the partnership Problem 12-5A Part 2 2. Assume that Benson does not retire from the partnership described in Part 1. Instead, Rhode is admitted to the partnership on February 1 with a 25% equity. Prepare journal entries to record Rhode's entry into the partnership under each separate assumption: Rhode invests (a) $100,000,($73,000, and ($131,000. (Do not round your intermediate calculations.) Required information View transaction list BRO BEN X: TEREN 1 Record the admission of Rhode with an investment of $100,000 for a 25% interest in the equity. 2 Record the admission of Rhode with an investment of $73,000 for a 25% interest in the equity. 3 Record the admission of Rhode with an investment $131,000 for a 25% interest in the equity. 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. Credit Debit 260,000 a. 250,000 10,000 b 180,000 128,000 52,800 C. General Journal Cash Connon Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 44, cee 19,500 83,000 59,900 56,680 30,000 d. 131,000 78,000 53,000 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 paid-in capital plus retained earnings equals $781,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Reg 4 How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital Req 2 and 3 Req 4 > 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 paid in capital plus retained earnings equals $781,000? 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 paid-in capital plus retained earnings equals $781,000? Book Value per Common Share Choose Denominator Choose Numerator Book Value per Common Shore Book value per common share Step by Step Solution
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