13-03 On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 73,000 shares of $10 par common stock at $12, and on November 19, it issued for cash 16,510 shares of preferred stock, $45 par at $54.

Required:

A.

Journalize the entries for October 31 and November 19. Refer to the Chart of Accounts for exact wording of account titles.

B.

What is the total amount invested (total paid-in capital) by all stockholders as of November 19?

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6

Final Question

B. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?