Problem 11-1A Stockholders' equity transactions and analysis LO C2, P1

Kinkaid Co. 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.

	General Journal	Debit	Credit
a.	Cash	290,000
	Common Stock, $25 Par Value		245,000
	Paid-In Capital in Excess of Par Value, Common Stock		45,000
b.	Organization Expenses	170,000
	Common Stock, $25 Par Value		125,000
	Paid-In Capital in Excess of Par Value, Common Stock		45,000
c.	Cash	44,000
	Accounts Receivable	16,000
	Building	81,800
	Notes Payable		59,900
	Common Stock, $25 Par Value		51,900
	Paid-In Capital in Excess of Par Value, Common Stock		30,000
d.	Cash	133,000
	Common Stock, $25 Par Value		79,000
	Paid-In Capital in Excess of Par Value, Common Stock		54,000

Required:

2.	How many shares of common stock are outstanding at year-end?
	Number of outstanding shares - _________

3.	What is the amount of minimum legal capital (based on par value) at year-end?
	Minimum legal capital - ___________

4.	What is the total paid-in capital at year-end?

Total paid-in capital- ______________

5.	What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $797,000? BOOK VALUE PER COMMON SHARE Choose numerator Choose denominator = Book value per common share
	_____________ / _________________ = _________________________ _____________ / __________________ = _________________________

References

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WorksheetDifficulty: Hard