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

Assignment Help Accounting Basics

Reference no: EM13596545

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.

a. Cash. 60,000
Common stock, $1 Par Value.. 1,500
Paid-In Capital in Excess of
Par Value, Common Stock... 58,000

b. Organization Expenses.. 20,000
Common stock, $1 Par Value.. 500
Paid-In Capital in Excess of
Par Value, Common Stock... 19,500

c. Cash.. 6,650
Accounts Receivable. 4,000
Building.. 12,500
Notes Payable.. 3,150
Common Stock, $1 Par Value.. 400
Paid-In Capital in Excess of
Par Value, Common Stock.. 19,600

d. Cash. 30,000
Common Stock, $1 Par Value.. 600
Paid-In Capital Excess of
Par Value, Common Stock 29,400

1. Explain the transaction(s) underlying each journal entry (a) through (d).

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

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

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

5. 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?

Reference no: EM13596545

Questions Cloud

Bonds payable has a balance of 1000000 and discount on : bonds payable has a balance of 1000000 and discount on bonds payable has a balance of 15000. if the issuing corporation

Review the financial statements of a publicly traded us : review the financial statements of a publicly traded u.s. company. post a link to the statements so they may be viewed

Directors declared a 2 per share cash dividend payable on : a corporation reports the following components of stockholders equity on december 31 2011. common stock-10 par value

Thunder corporation retired 130000 face value 12 bonds on : for each situation prepare the appropriate journal entry for the redemption of the bonds.a thunder corporation retired

What is the book value per share of the common stock at : nilson company is incorporated at the beginning of this year and engages in a number of transactions. the following

During 2001 davidson company introduced a new line of : during 2001 davidson company introduced a new line of machines that carry a three-year warranty against manufacturers

The lake superior company has spent a total of 153000 at : the lake superior company has spent a total of 153000 at the beginning of 2000 in acquiring patents for its

The justin companys heating system has just completed its : the justin companys heating system has just completed its 12th year of a estimated 15-year life. at date of purchase

Tiger company recently exchanged an old truck which cost : tiger company recently exchanged an old truck which cost 54000 and was one-third depreciated and paid 35000 cash for a

User Account

All Pages