Question

Saved Help Save 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 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Credit 270,000 225.000 45,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 190,000 130,000 60,000 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 45,500 16,000 82,700 59,700 54,500 30.000 d. 134,000 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 77.000 57,000 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 $784.000 Complete this question by entering your answers in the tabs below. Reg 2 and 3 Reg 4 n d what the total natin antanut How many shares of mamman start are aristanding a 4 of 9 !!! Next > < Prev

Answer 1

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Shares issued for cash shares issued for organization expenses Shares issued for assets Shares issued for cash Total balance of Common stock Account Par value of Common stock Number of common shares outstanding at end of the year $225,000 $130,000 $54,500 $77,000 $486,500 A $25 B 19,460 A/B Common stock Total Total paid-in capital Shares issued for cash shares issued for organization expenses Shares issued for assets Shares issued for cash Total paid-in capital at year end $225,000 $130,000 $54,500 $77,000 $486,500 PIC in excess of par value $45,000 $60,000 $30,000 $57,000 $192,000 $270,000 $190,000 $84,500 $134,000 $678,500 Total paid-in capital and Retained earnings balance Total number of shares Book value per Common share $784,000 A 19,460 B $40.29 A/B