Question
Entries for Issuing Par Stock
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 55,000 shares of $20 par common stock at $68, and on November 19, it issued for cash 140,000 shares of $4 par preferred stock at $7.
a. Journalize the entries for October 31 and November 19.
For a compound transaction, if an amount box does not require an entry, leave it blank.
b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
$
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Oct. 31 |
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Nov. 19 |
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