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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 General Journal Debit 270,000 Credit a. Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 250,000 20,000 b. Organization Expenses 190,000 Common Stock, $25 Par Value 130,000 60,000 Paid-In Capital in Excess of Par Value, Comon Stock Cash Accounts Receivable Building 44,500 15,500 81,700 Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,800 51,900 30,000 d. Cash 123,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 75,000 48,000 Required: 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 $791,0001? Complete this question by entering your answers in the tabs below. Req 2 to4 Req 5 How many shares of common stock are outstanding at year-end? What is the amount of minimum legal capital (based on par value) at year-end? What is the total paid-in capital at year-end? 2. Number of outstanding shares 3. Minimum legal capital 4. Total paid-in capital
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