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PROBLEM SET A Kinkaid Co, was incorporated at the beginning of this year and had a number of transactions. The follow- ing journal entries impacted
PROBLEM SET A Kinkaid Co, was incorporated at the beginning of this year and had a number of transactions. The follow- ing journal entries impacted its stockholders' equity during its first year of operations. 300,000 Problem 13-1A Stockholders' equity transactions and analysis P1 A4 250.000 50,000 T 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.. 150,000 125,000 25,000 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 30,000 120,000 Cash.. Common Stock $25 Par Value. Paid-In Capital in Excess of Par Value, Common Stock.... 75.000 45,000 Check 2120.000 shares (3) $650.000 Required 1. Explain the transaction(s) underlying each journal entry (a) through (d). 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
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