Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21. Question Content Area a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Feb. 12 Cash Cash - Select - - Select - - Select - - Select - Aug. 3 - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3? $fill in the blank
Entries for Issuing No-Par Stock On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21. Question Content Area a. Journalize the entries for February 12 and August 3, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. Feb. 12 Cash Cash - Select - - Select - - Select - - Select - Aug. 3 - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3? $fill in the blank
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 6SPB: PAR AND NO-PAR, COMMON AND PREFERRED STOCK Valdez Company had the following stock transactions...
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Question
Entries for Issuing No-Par Stock
On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of
Question Content Area
a.
| Feb. 12 |
|
Cash | Cash |
|
|
- Select - | - Select - | |
|
|
- Select - | - Select - | |
| Aug. 3 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
|
|
- Select - | - Select - |
Question Content Area
b. What is the total amount invested (total paid-in capital) by all stockholders as of August 3?
$fill in the blank
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