Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
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. Debit Credit General Journal Cash 290,000 . Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 230,000 60,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock b. 200,000 125,000 75,000 Cash 44,000 17,500 82,500 C. Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,600 54,400 30,000 d. Cash 150,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 80,000 70,000 Required: 2. & 3. How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $782,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 4 How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? Number of outstanding shares Total paid-in capital 2. 3. Required: 2. & 3. How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $782,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 4 What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $782,000? Book Value per Common Share Choose Denominator: Choose Numerator: / Book Value per Common Share Book value per common share
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started