Entries for issuing par stock OBJ. 2 On April 20, Gallatin County Rocks Inc., a marble contractor,
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Entries for issuing par stock OBJ. 2 On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 75,000 shares of $45 par common stock at $54, and on August 7, it issued for cash 20,000 shares of preferred stock, $10 par at $12.
a. Journalize the entries for April 20 and August 7.
b. What is the total amount invested (total paid-in capital) by all stockholders as of August 7?
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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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