Chapter 11 Accounting Solution - Kinkaid Co Answer 1 2 How Many Shares of Common Stock are outstanding at the year-end Number of Outstanding Shares 3

Chapter 11 Accounting Solution - Kinkaid Co Answer 1 2 How...

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Kinkaid Co. Answer 1 2 How Many Shares of Common Stock are outstanding at the 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 Book Value of Comm Choose Numerator Total Stockholder's Equity 798000 Answer 2 KOHLER CORPOR Journal Entri Date Accounts Jan-01 Treasury Stock (4500 x 20) Cash 5-Jan Retained Earning (50000 -4500) x 6 Dividend Payable 28-Feb Dividend Payable Cash 6-Jul Cash (1688 x 24) Paid In Capital in excess of Par Treasury Stock (1688 x 20) 22-Aug Cash (2812 x 17) Paid In Capital in excess of Par Retained Earnings Treasury Stock (2812 x 20) 5-Sep Retained Earning (50000 x 6) Dividend Payable 28-Oct Dividend Payable Cash Note: You cannot debit the Paid-In Capital from Sale of Treasury Stock account for more than it has been credited. Any difference will be made to the Retained Earnings account
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31-Dec Income Summary Retained Earnings Answer 3 KOHLER CORPOR Statement of Retaine For the period ended Dec Retained Earning January 1, 2016 Add : Net Income for the year Less : Cash Dividend Decrease in Retained Earnings Retained Earnings January 31, 2016 Answer 4 KOHLER CORPOR Stockholder's Equity Section o December 31,
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