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 amount of minimum legal capital (based on par value) at year-end?
4. What is the total paid-in capital at year-end?
5. 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 And Managerial Accounting Information For Decisions
ISBN: 9781259726705
7th Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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