- Kinkaid Company Was Incorporated At The Beginning Of This Year And Had A Number Of Transactions The Following Journal E 1 (153.89 KiB) Viewed 61 times
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 General Journal Debit Credit a. Cash 310,000 Common Stock, $25 Par Value 240,000 70,000 Paid-In Capital in Excess of Par Value, Common Stock Organization Expenses b. 170,000 Common Stock, $25 Par Value 130,000 40,000 Paid-In Capital in Excess of Par Value, Common Stock Cash C. 45,000 Accounts Receivable 18,000 Building 82,900 Notes Payable 59,500 Common Stock, $25 Par Value 56,400 30,000 Paid-In Capital in Excess of Par Value, Common Stock Cash d. 138,000 Common Stock, $25 Par Value 76,000 Paid-In Capital in Excess of Par Value, Common Stock 62,000 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