Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries mpacted its stockholders' equity during its first year of operations. Transaction ? 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: 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 3. Total paid-in capital Debit 290,000 190,000 45,000 19,000 82,600 135,000 Credit 235,000 55,000 126,000 64,000 59,900 56,700 30,000 75,000 60,000
Kinkaid Company was incorporated at the beginning of this year and had a number of transactions. The following journal entries mpacted its stockholders' equity during its first year of operations. Transaction ? 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: 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 3. Total paid-in capital Debit 290,000 190,000 45,000 19,000 82,600 135,000 Credit 235,000 55,000 126,000 64,000 59,900 56,700 30,000 75,000 60,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
b.
9
2
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
290,000
190,000
45,000
19,000
82,600
135,000
Credit
235,000
55,000
126,000
64,000
59,900
56,700
30,000
75,000
60,000
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