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 9 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 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 Debit 280,000 150,000 45,000 17,500 82,900 120,000 Credit 230,000 50,000 129,000 21,000 59,800 55,600 30,000 79,000 41,000
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 9 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 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 Debit 280,000 150,000 45,000 17,500 82,900 120,000 Credit 230,000 50,000 129,000 21,000 59,800 55,600 30,000 79,000 41,000
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 1R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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Question
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![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
U
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
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
Debit
280,000
150,000
45,000
17,500
82,900
120,000
Credit
230,000
50,000
129,000
21,000
59,800
55,600
30,000
79,000
41,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8241480b-1130-4858-91d1-8e61f943dc4f%2F5e864bfe-2c0f-451e-b544-9bcd0e3dc133%2Fxjyrgga_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
U
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
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
Debit
280,000
150,000
45,000
17,500
82,900
120,000
Credit
230,000
50,000
129,000
21,000
59,800
55,600
30,000
79,000
41,000
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