$$12.$

a$.$ Journalize the entries for January $22$ and February $27.$ If an amount box does not require an entry, leave it blank.

Jan. $22!$

Common Stock $$

Paid$-$In Capital in Excess of Par$-$Common Stock $$

Feb. $27$

Preferred Stock $$

Paid$-$In Capital in Excess of Par$-$Preferred Stock $$

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of stock.

b$.$ What is the total amount invested $($total paid$-$in capital$)$ by all stockholders as of February $27?$

$

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Paid$-$in capital refers to how much has been paid into the corporation by stockholders in order to be owners.