Question

1 Problems General Journal Debit 299,000 Credit Common Stock, $25 Par Value Paid In Capital in Excess of Par Value, Common Stock 215,000 55,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 170,000 128,000 42,00 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paldin Capital in Excess of Par Value, Common Stock 45,500 17.500 32,700 59,800 55,90 30,000 d. Cash C ostock, 525 Par Value Paldin Capital in Excess of Par Value, Common Stock 124,000 79,000 45,000 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 $783,000? Complete this question by entering your answers in the tabs below. Reg 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?

Answer 1

2.

Number of common shares issued in transaction (a)= 235,000/25

= 9,400

Number of common shares issued in transaction (b) = 128,000/25

= 5,120

Number of common shares issued in transaction (c) = 55,900/25

= 2,236

Number of common shares issued in transaction (d) = 79,000/25

= 3,160

Number of common shares outstanding at year end= Number of common shares issued in transaction (a) + Number of common shares issued in transaction (b) + Number of common shares issued in transaction (c) + Number of common shares issued in transaction (d)

= 9,400+5,120+2,236+3,160

= 19,916

3.

Paid in capital in transaction (a) = Common stock + Paid in capital in excess of par value

= 235,000+55,000

= $290,000

Paid in capital in transaction (b) = Common stock + Paid in capital in excess of par value

= 128,000+42,000

= $170,000

Paid in capital in transaction (c) = Common stock + Paid in capital in excess of par value

= 55,900+30,000

= $85,900

Paid in capital in transaction (d) = Common stock + Paid in capital in excess of par value

= 79,000+45,000

= $124,000

Total paid in capital at year end = Paid in capital in transaction (a) + Paid in capital in transaction (b) + Paid in capital in transaction (c) + Paid in capital in transaction (d)

= 290,000+170,000+85,900+124,000

= $669,900

2.	Number of outstanding shares	19,916
3.	Total paid-in capital	$669,900

4.

Book value par share of common stock = Total paid in capital plus retained earnings / Number of common shares outstanding

= 783,000/19,916

= $39.31

Choose Numerator	/	Book Value per Common Share Choose Denominator	=	Book Value per Common Share
Total paid in capital plus retained earnings	/	Number of common shares outstanding	=	Book value per common share
783,000	/	19,916	=	$39.31

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