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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
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 280,000 Common Stock, $25 Par Value 250,000 b. Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses 30,000 200,000 Common Stock, $25 Par Value 127,000 Paid-In Capital in Excess of Par Value, Common Stock 73,000 C. Cash 45,500 Accounts Receivable 18,000 Building 81,800 Notes Payable 59,800 Common Stock, $25 Par Value 55,500 Paid-In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 131,000 Common Stock, $25 Par Value 75,000 Paid-In Capital in Excess of Par Value, Common Stock 56,000 S 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. Number of outstanding shares 3. Total paid-in capital
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