Entries for issuing no-par stock OBJ. 2 On May 15, Helena Carpet Inc., a carpet wholesaler, issued
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Entries for issuing no-par stock OBJ. 2 On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 750,000 shares of nopar common stock (with a stated value of $1.50) at $4, and on June 30, it issued for cash 17,500 shares of preferred stock, $50 par at $60.
a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value.
b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30?
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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