Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

M mall 3 Youube Maps New lab Furniture Store Lo... Reading List Chapter 11 Problems A Saved Help Save & Exit Submit Check my work

image text in transcribed

M mall 3 Youube Maps New lab Furniture Store Lo... Reading List Chapter 11 Problems A Saved Help Save & Exit Submit Check my work 1 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 Credit 2.08 points Debit 290,000 245,000 45,000 b. 190,000 eBook 127,000 63,000 Print General Journal 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 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 44,500 18,500 82,000 References 60,000 55,000 30,000 130,000 76,000 54,000 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel G. Short

3rd Edition

0072458836, 978-0072458831

More Books

Students also viewed these Accounting questions

Question

Why should a consultants progress be regularly monitored?

Answered: 1 week ago