Entries for Issuing Par Stock

On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 90,000 shares of $5 par common stock at $7, and on November 19, it issued for cash 60,000 shares of preferred stock, $20 par at $68.

Question Content Area

a. Journalize the entries for October 31 and November 19. If an amount box does not require an entry, leave it blank.

Oct. 31CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockPreferred Stock- Select -- Select - CashCommon StockPaid-In Capital in Excess of Par-Preferred StockPreferred StockRetained Earnings- Select -- Select - CashPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockPreferred Stock- Select -- Select -Nov. 19CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockPreferred Stock- Select -- Select - CashCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained Earnings- Select -- Select - CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred Stock- Select -- Select -

Question Content Area

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