Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 b. 0422 33 Kinkald Company was incorporated at the beginning of this year and had a number of transactions. The following Journal entries impacted

image text in transcribed
1 b. 0422 33 Kinkald Company was incorporated at the beginning of this year and had a number of transactions. The following Journal entries impacted its stockholders' equity during its first year of operations, Transaction General Journal Debit Credit Cash 300.000 Common Stock $25 Par Value 245.000 Paid-In Capital in Excess of Par Valve, Common Stock 55,000 Organisation Expenses 150,000 Common Stock, $25 Par Value 128,000 Pald-In Capital in Excess of Par Value, Common Stock 22.000 Cau 63,500 Account Receivable 15.500 Building 82,200 Note Payable 60,000 Common Stock $25 Par Value 51,200 Paid In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 137.000 Common Stock, $25 Par Value 72.000 Pald-In Capital in Excess of Par Valve Common Stock 58.000 c. eBook Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total pald.in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

For Wahlen/jones/pagachs Intermediate Accounting Reporting And Analysis, , 2 Terms

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd Edition

1305405676, 9781305405677

More Books

Students also viewed these Accounting questions

Question

What is the content-level meaning?

Answered: 1 week ago