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Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders' equity during
Kinkaid Co. 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. General Journal a. Cash Debit 310,000 Credit Common Stock, $25 Par Value 230,000 Paid-In Capital in Excess of Par Value, Common Stock 80,000 b. Organization Expenses 170,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 129,000 41,000 C. Cash 46,000 Accounts Receivable 15,500 Building 82,800 Notes Payable 59,700 Common Stock, $25 Par Value 54,600 Paid-In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 128,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 80,000 48,000 Required: 2. How many shares of common stock are outstanding at year-end? 3. 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 $785,000? 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? 2. Number of outstanding shares 3. Total paid-in capital < Req 2 and 3 Req 4 >
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