Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Entries for issuing Par Stock On October 31, Legacy Rocks Inc, a marble contractor, issued for cash 100,000 shares of $5 par common stock at
Entries for issuing Par Stock On October 31, Legacy Rocks Inc, a marble contractor, issued for cash 100,000 shares of $5 par common stock at 57, and on November 19, it issued for cash 65,000 shares of $12 par preferred stock at $41 a. Journalize the entries for October 31 and November 19 For a compound transaction, it 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 Nov. 19 Cash Preferred Stock Paldin Capital in Excess of Par-Preferred Stock I II) I b. What is the total amount isted (total and in capital) by all stockholders wo of November 19
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started