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Kinkaid Company was incorporated at the beginning of this year and had a number of...

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Accounting

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 290,000
Common Stock, $25 Par Value 235,000
Paid-In Capital in Excess of Par Value, Common Stock 55,000
b. Organization Expenses 160,000
Common Stock, $25 Par Value 128,000
Paid-In Capital in Excess of Par Value, Common Stock 32,000
c. Cash 45,500
Accounts Receivable 19,000
Building 82,200
Notes Payable 59,600
Common Stock, $25 Par Value 57,100
Paid-In Capital in Excess of Par Value, Common Stock 30,000
d. Cash 136,000
Common Stock, $25 Par Value 77,000
Paid-In Capital in Excess of Par Value, Common Stock 59,000

Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end?

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