Sub : AccountingPls answer Fast.Dnt CHATGPT.I ll upvote. Thank YouProblem 11-1A (Algo) Stockholders' equity transactions and analysis LO P1Kinkaid 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.TransactionGeneral JournalDebitCredita.Cash280,000 Common Stock, $25 Par Value 240,000 Paid-In Capital in Excess of Par Value, Common Stock 40,000b.Organization Expenses180,000 Common Stock, $25 Par Value 129,000 Paid-In Capital in Excess of Par Value, Common Stock 51,000c.Cash45,000 Accounts Receivable20,000 Building81,600 Notes Payable 59,800 Common Stock, $25 Par Value 56,800 Paid-In Capital in Excess of Par Value, Common Stock 30,000d.Cash137,000 Common Stock, $25 Par Value 76,000 Paid-In Capital in Excess of Par Value, Common Stock 61,000Required: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

The paid in capital includes the total cost of shares issued by the company and cash invested by the…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sub : Accounting
Pls answer Fast.Dnt CHATGPT.I ll upvote. Thank You

Problem 11-1A (Algo) Stockholders' equity transactions and analysis LO P1

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	280,000
	Common Stock, $25 Par Value		240,000
	Paid-In Capital in Excess of Par Value, Common Stock		40,000
b.	Organization Expenses	180,000
	Common Stock, $25 Par Value		129,000
	Paid-In Capital in Excess of Par Value, Common Stock		51,000
c.	Cash	45,000
	Accounts Receivable	20,000
	Building	81,600
	Notes Payable		59,800
	Common Stock, $25 Par Value		56,800
	Paid-In Capital in Excess of Par Value, Common Stock		30,000
d.	Cash	137,000
	Common Stock, $25 Par Value		76,000
	Paid-In Capital in Excess of Par Value, Common Stock		61,000