What is the book value per share of the common stock at

Assignment Help Accounting Basics

Reference no: EM13589803

Inkaid 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		235,000
	Paid-In Capital in Excess of Par Value, Common Stock		25,000

b.	Organization Expenses	190,000
	Common Stock, $25 Par Value		126,000
	Paid-In Capital in Excess of Par Value, Common Stock		64,000

c.	Cash	45,500
	Accounts Receivable	16,000
	Building	81,700
	Notes Payable		59,500
	Common Stock, $25 Par Value		53,700
	Paid-In Capital in Excess of Par Value, Common Stock		30,000

d.	Cash	127,000
	Common Stock, $25 Par Value		76,000
	Paid-In Capital in Excess of Par Value, Common Stock		51,000

Please show work:

a.How many shares of common stock are outstanding at year-end?

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

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

d. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $782,000?

Reference no: EM13589803

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