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help please! Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders'
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Kinkaid 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 250,000 Paid In capital in Excess of Par Value, Common Stock 50,000 Organization Expenses 190,000 Common Stock, $25 Par Value 128,000 Paid-In Capital in Excess of Par Value, Common Stock 62,000 Cash 44,000 Accounts Receivable 19,500 Building 82,400 Notes Payable 60,000 Common Stock, $25 Par Value 55,900 Pald-In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 124,000 76,000 Common Stock, $25 Par Value 48,000 Paid-In Capital in Excess of Par Value, Common Stock c. Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital 1 Step by Step Solution
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