Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. journalize the entries for oct. 31 and nov. 19. B. what is the total amouny invested by all stockholders as of nov. 19? Entries

A. journalize the entries for oct. 31 and nov. 19.
B. what is the total amouny invested by all stockholders as of nov. 19? image text in transcribed
Entries for Issuing Par Stock On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 100,000 shares of $5 par common stock at $9, and on November 19, it issued for cash 25,000 shares of preferred stock, $8 par at $27. a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank. Oct. 31 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock 111 112 111 110 Nov. 19 Cash Preferred Stock 3 Pald-In Capital in Excess of Par-Preferred Stock Feedback Check My Work Recall that a separate account is used for recording the amount of each class of stock Issued to investors in a corporation Recall the definition of legal capital and what effect that has on recording the sale of stock. b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19? Check My Work Previous Next > Email Instructor Save and Exit Submit Assignment for Grading

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Evaluate the importance of the employee handbook.

Answered: 1 week ago

Question

Discuss the steps in the progressive discipline approach.

Answered: 1 week ago