Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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. Credit Debit 310,000 a. 1.66 points General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 235,000 75,000 b. 180,000 Book Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 127,000 53,000 43,500 19.000 82.900 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,700 55,700 30,000 138,000 Cash Common stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 76,000 62,000 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 $784,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Reg 4 Required: 2. How many shares of common stock are outstanding at year 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at ye ok t Complete this question by entering your answers in the Req 2 and 3 Reg 4 How many shares of common stock are outstanding at year-end? 2. Number of outstanding shares Total paid-in capital 3.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students explore these related Accounting questions