On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at 518, and on November 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80. a. Journalize the entries for October 31 and November 19. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at 518, and on November 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80. a. Journalize the entries for October 31 and November 19. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
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 5SEA: STOCKHOLDERS EQUITY SECTION After closing its books on December 31, Pro Parts stockholders equity...
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Entries for issuing par stock
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at 518, and on November 19, it issued for cash 50,000 shares of
a.
b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
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