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Problem 11-1B Nilson Company is incorporated at t...

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Problem 11-1B 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??.. 450 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 REQUIRED 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 equal $141,500?

 

Paper#3190 | Written in 18-Jul-2015

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