Nilson Company 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.

1. Explain the transaction(s) underlying each journal entry (a) through (d).
2. What is the total paid-in capital at year-end?
3. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals$141,500?

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1,500 Paid-In Capital in Excess of... Par value, Common Stock b. Organization Expense. Paid -In Capital in Excess of 58,500 20,000 500 19,500 Accounts Receivable Building... Notes Payable.... . 0,050 4, 000 12,500 3,150 400 Paid-In Capital in Excess of 19,600 Common Stock, $25 Par Value Paid-In Capital in Excess of 600 29,400