Entries for issuing par stock

On January $22,$ Jefferson County Rocks Inc., a marble contractor, issued for cash $65,000$ shares of $$15$ par common stock at $$51,$ and on February $27,$ it issued for cash $150,000$ shares of preferred stock, $$5$ par at $$9.$

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

Jan. $22$

Feb. $27$

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Preferred Stock $$

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Feedback $q,$

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 affect that has on recording the sale of stock.

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

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