On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 120,000 shares of $5 par common stock at $7, and on November 19, it issued for cash 40,000 shares of preferred stock, $20 par at $68. a.  Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank. Oct. 31   fill in the blank aa86f502901ffda_2 fill in the blank aa86f502901ffda_3     fill in the blank aa86f502901ffda_5 fill in the blank aa86f502901ffda_6     fill in the blank aa86f502901ffda_8 fill in the blank aa86f502901ffda_9 Nov. 19   fill in the blank aa86f502901ffda_11 fill in the blank aa86f502901ffda_12     fill in the blank aa86f502901ffda_14 fill in the blank aa86f502901ffda_15     fill in the blank aa86f502901ffda_17 fill in the blank aa86f502901ffda_18 b.  What is the total amount invested (total paid-in capital) by all stockholders as of November 19? $fill in the blank 9394ff033fe2002_1

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
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Entries for Issuing Par Stock

On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 120,000 shares of $5 par common stock at $7, and on November 19, it issued for cash 40,000 shares of preferred stock, $20 par at $68.

a.  Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank.

Oct. 31   fill in the blank aa86f502901ffda_2 fill in the blank aa86f502901ffda_3
    fill in the blank aa86f502901ffda_5 fill in the blank aa86f502901ffda_6
    fill in the blank aa86f502901ffda_8 fill in the blank aa86f502901ffda_9
Nov. 19   fill in the blank aa86f502901ffda_11 fill in the blank aa86f502901ffda_12
    fill in the blank aa86f502901ffda_14 fill in the blank aa86f502901ffda_15
    fill in the blank aa86f502901ffda_17 fill in the blank aa86f502901ffda_18

b.  What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
$fill in the blank 9394ff033fe2002_1

 
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