Question
Entries for issuing par stock question: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock
Entries for issuing par stock question:
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on November 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80.
a. Journalize the entries for October 31 and November 19.
b. What is the total amount invested (total paid-in capital) by all stockholders as of November 19?
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Financial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
4th Edition
9781934319345
