Kinkaid Co. 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.

Kinkaid Co. 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 General Journal Debit Credit a. Cash 280,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 230,000 50,000 b. Organization Expenses 180,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 127,000 53,000 44,500 19,000 83,000 c. Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,800 56,700 30,000 d. Cash 121,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 77,000 44,000