Question

Kinkaid Co. 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. General Journal Debit Credit Cash 290,000 Common Stock, $25 Par Value Paid-In Capital in Excesss of Par Value, Common Stock 245,000 45,000 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock ь. 200,000 126,000 74,000 Cash 43,500 17,500 81,600 Accounts Receivable Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 59,900 52,700 30,000 d. Cash 128,000 Common Stock, $25 Par Value 76,000 Paid-In Capital in Excess of Par Value, Common Stoek 52,000 Required: 2. How many shares of common stock are outstanding at year-end? 3. What is the total paid-in capital at year-end? 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $795,000? Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 4

Answer 1

2
Number of outstanding shares	19988	=(245000+126000+52700+76000)/25
3
Total paid-in Capital	700700	=(19988*25)+45000+74000+30000+52000
4
Book value per common share
Choose Numerator	/	Choose Denominator	=	Book value per common share
Stockholders' Equity applicable to Common shares	/	Number of common shares outstanding	=	Book value per common share
795000	/	19988	=	39.77