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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 Cash 270,000 Common Stock, $35 Par Value 245,000 Paid-In Capital in Excess of Par Value, 25,000 Common Stock b. Organization Expenses 180,000 Common Stock, $25 Par Value 125,000 Paid-In Capital in Excess of Par Value, Common Stock 55,000 Cash 46,000 Accounts Receivable 17,500 Building 82,500 Notes Payable 59,600 Common Stock, $25 Par Value 56,400 Paid-In Capital in Excess of Par Value, Common Stock 30,000 d. Cash 145,000 Common Stock, $25 Par Value 78,000 Paid-In Capital in Excess of Par Value, Common Stock 67,000 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. Number of outstanding shares 3. Total paid-in capital
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