Kinkaid Co. is incorporated at the beginning of this year and engages in...

60.1K

Verified Solution

Question

Accounting

imageimage

Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders' equity during its first year of operations. Debit Credit General Journal Cash 290,000 . Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 230,000 60,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock b. 200,000 125,000 75,000 Cash 44,000 17,500 82,500 C. Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,600 54,400 30,000 d. Cash 150,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 80,000 70,000 Required: 2. & 3. How many shares of common stock are outstanding at year-end? 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 $782,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 4 How many shares of common stock are outstanding at year-end? What is the total paid-in capital at year-end? Number of outstanding shares Total paid-in capital 2. 3. Required: 2. & 3. How many shares of common stock are outstanding at year-end? 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 $782,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 4 What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $782,000? Book Value per Common Share Choose Denominator: Choose Numerator: / Book Value per Common Share Book value per common share

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students