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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 21
Weiss 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.
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 equals $283,000
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 equals $283,000
Explanation
Verified
Verified
1.
Explanation to each transaction:
a....
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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