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Please show work to better help me learn Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions.
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Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Credit Debit 300,000 a. General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 250,000 50,000 b. 150,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 125,000 25,000 c. 43,000 15,000 81,500 Cash Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,500 50,000 30,000 d. 120,000 Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 75,000 45,000 Required: 2. & 3. How many shares of common stock are outstanding at year-end? 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 $695,000Step by Step Solution
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