On February 20, Mudguard Corp., a carpet wholesaler, issued for cash 100,000 shares of no-par common stock

Question:

On February 20, Mudguard Corp., a carpet wholesaler, issued for cash 100,000 shares of no-par (with a stated value of $10) at $15, and on April 30, it issued for cash 4,000 shares of $25 par preferred stock at $30.
a. Journalize the entries for February 20 and April 30, assuming that the is to be credited with the stated value.
b. What is the total amount invested (total paid-in capital) by all stockholders as of April 30?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...