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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. Credit Debit 300,000 235,000 65,000 200,000 126,000 74,000 45,500 17,000 81,700 Transaction General Journal a. Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock d. Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 60,000 54,200 30,000 124,000 78,000 46,000 2. Number of outstanding shares 3. Total paid-in capital
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