Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help Kinkaid Co. was incorporated at the beginning of this year and had a number of transactions. The following journal entries impacted its stockholders'
Please help
Kinkaid Co. 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, General Journal Debit Credit a. Cash Common Stock, $25 Par Value 300,000 250,000 Paid-In Capital in Excess of Par Value, Common Stock 50,000 b. Organization Expenses 150,000 Common Stock, $25 Par Value 125,000 Paid-In Capital in excess of Par Value, Common Stock 25,000 Cash 43,000 Accounts Receivable 15,000 Building 81,500 Notes Payable 59,500 Common Stock, $25 Par Value 50,000 Paid-In Capital in excess of Par Value, Common Stock 30,000 Cash 120,000 Common Stock, $25 Par Value 75,000 Paid-In Capital in Excess of Par Value, Common Stock 45,800 d. Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total pald-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid in capital plus retained earnings equals $695,000? Complete this question by entering your answers in the tabs below. Reg 2 and 3 Reg 4 How many shares of common stock are outstanding of year-end? What is the total paid in capital at year end? Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $695,000? Complete this question by entering your answers in the tabs below. ces Req 2 and 3 Reg 4 How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? 2. Number of outstanding shares Total paid in capital 3 Reg 4 > Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total pald-in capital plus retained earnings equals $695,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Reg 4 What is the book value per share of the common stock at year-end of total paid-in capital plus retained earnings equals $695,0002 Book Valuo per Common Share Chooso Numerator Choose Denominator Book Value per Common Share Book value por common share 1 ( Req 2 and 3 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started