12.4

Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 265,000 shares of no-par common stock (with a stated value of $6) at $24, and on June 30, it issued for cash 30,000 shares of preferred stock 585 par at $89. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank. May 15 110 110 June 30 b. What is the total amount invested (total paldin capital) by a stockholders as of June 307