Entries for issuing par stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 180,000 shares of $20 par common stock at $23, and on February 27, it issued for cash 25,000 shares of preferred stock, $7 par at $9. A. Journalize the entries for January 22 and February 27. B. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

BuyFind

Corporate Financial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781305653535
BuyFind

Corporate Financial Accounting

14th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781305653535

Solutions

Chapter
Section
Chapter 12, Problem 12.3EX
Textbook Problem

Entries for issuing par stock

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 180,000 shares of $20 par common stock at $23, and on February 27, it issued for cash 25,000 shares of preferred stock, $7 par at $9.

A. Journalize the entries for January 22 and February 27.

B. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

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Chapter 12 Solutions

Corporate Financial Accounting
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