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. Credit Debit General Journal Cash Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 290,e00 225,e00 65,e00 Organization Expenses Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock b. 160,000 129,000 31,000 Cash 44,000 Accounts Receivable 15,500 Building Notes Payable Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock 82,400 59,700 52,200 30,000 d. Cash 132,000 Common Stock, $25 Par Value 79,e00 53,000 Paid-In Capital in Excess of Par Value, Common Stock 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 $797,000? 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 3 Total paid-in capital

Answer 1

2)	Number of outstanding shares
	issued in (a)			9,000
	issued in (b)			5,160
	issued in ©			2,088
	issued in (d)			3,160
	total			19,408	answer
3)	total paid in capital from common stockholders
	from transaction (a)			290,000
	From transaction (b)			160,000
	From transaction ©			82,200
	from transaction (d)			132,000
	total paid in capital.			664,200	answer
4)		Book value per common share
	choose numerator		/	Choose denominator			=	book value per CS
	total stocholders			outstanding shares
	equity
	797,000		/	19,408			=	41.07