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Kinkald Company was incorporated at the beginning of this year and had a number of transactions. The following Journal entries Impacted its stockholders' equity during
Kinkald 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. Canh 280,000 Common Stock, $25 Par Value 245,000 Paid-In Capital in Excess of Par Value, Common Stock 35,000 b. Organization Expenses 150,000 Common Stock, $25 Par Value 126.000 Paid-In Capital in Excess of Par value, Common Stock 24,000 Cash 46,000 Accounts Receivable 16,500 Building 81,500 Notes Payable 59,500 Common Stock, $25 Par Value 54,500 Paid-in Capital in Excess of Par Value, Conmon Stock 30,000 d. Cash 142,000 Common Stock, $25 Par Value 79,000 Paid-In Capital in excess of Par Value, Common Stock 63,000 Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total pald-in capital at year-end? 2. Number of outstanding shares 3. Total paid-in capital
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