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Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries imp stockholders' equity during its
Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries imp stockholders' equity during its first year of operations. Credit Debit 300,000 a. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 240,000 60,000 b. 200,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 129,000 71,000 c. 45,000 17,500 82,000 Cash Accounts Receivable Building Notes Payable Comon Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,800 54,700 30,000 d. 123,000 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 77,000 46,000 Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 2. 3. Number of outstanding shares Total paid-in capital
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