Reference no: EM132567813

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                                                260,000

Common Stock, $25 Par Value                                                 225,000

Paid-In Capital in Excess of Par Value, Common Stock                   35,000

b.Organization Expenses                              170,000

Common Stock, $25 Par Value                                                         126,000

Paid-In Capital in Excess of Par Value, Common Stock                               44,000

c. Cash                                                       45,000

Accounts Receivable                                           18,500

Building                                                          82,300

Notes Payable                                                                                             59,500

Common Stock, $25 Par Value                                                                        56,300

Paid-In Capital in Excess of Par Value, Common Stock                                        30,000

d. Cash                                                         141,000

Common Stock, $25 Par Value                                                                                77,000

Paid-In Capital in Excess of Par Value, Common Stock                                                64,000

Required:

Question 1: How many shares of common stock are outstanding at year-end?

Question 2: What is the amount of minimum legal capital (based on par value) at year-end?

Question 3: What is the total paid-in capital at year-end?

Question 4: What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $791,000?