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Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders equity during

Kinkaid Company 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.

Transaction General Journal Debit Credit
a. Cash 290,000
Common Stock, $25 Par Value 245,000
Paid-In Capital in Excess of Par Value, Common Stock 45,000
b. Organization Expenses 170,000
Common Stock, $25 Par Value 126,000
Paid-In Capital in Excess of Par Value, Common Stock 44,000
c. Cash 46,000
Accounts Receivable 17,000
Building 82,000
Notes Payable 59,600
Common Stock, $25 Par Value 55,400
Paid-In Capital in Excess of Par Value, Common Stock 30,000
d. Cash 150,000
Common Stock, $25 Par Value 78,000
Paid-In Capital in Excess of Par Value, Common Stock 72,000

Required:

  1. How many shares of common stock are outstanding at year-end?
  2. What is the total paid-in capital at year-end?

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