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Entries for Issuing Par Stock On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 160,000 shares of $4 par common stock at
Entries for Issuing Par Stock
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 160,000 shares of $4 par common stock at $7, and on November 19, it issued for cash 65,000 shares of $15 par preferred stock at $51.
a. Journalize the entries for October 31 and November 19.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Oct. 31 | |||
Nov. 19 | |||
b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19? $
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