Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions.
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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.
Required
1. Explain the transaction(s) underlying each journal entry (a) through (d).
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 $695,000?
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Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
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