Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kinkaid company was incorporated at the beginning

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

70.2K

Verified Solution

Question

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?

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Outline how a concentrated urine (what enters the renal pelvis) is formed as the filtrate flows...

Medical Sciences
Q

Check the 3 correct answers lack s a cell wall fungi algae Mycoplasma virus protozoa

Biology
Q

A capacitor of capacity C 1 uF can withstand maximum voltage V 6 kV and...

Physics
Q

9 10 Points 2 06 7 1 DETAILS a Rewrite the addition problem as a...

Algebra
Q

Plot the vector field F at the points listed below using a 2D Cartesian Coordinate...

Algebra
Q

The information you convey to customers about the product/ service you offer must be truthful,...

Accounting
Q

Question 3: (a) KANJAR Company is a manufacturer of light aircraft components in Oman. For...

Accounting
Q

Everest corporation sold $100,000 of 5% 8 year bonds for face value on April 1...

Accounting
Q

Frieden Company's contribution format income statement for the most recent month is given below: ...

Accounting
Q

ow first we calculate misstatement as per sample value categories as follows:- Stratum/Category...

Accounting
Q

The following information was taken from Slater Company's balance sheet

Accounting
Q

An economy is described using the following equations: C=120+0.2(YT)I=200G=70NX=50T=100Y=375 Find the total level of unemployment...

Accounting