EX.12-03

Instructions On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 73,000 shares of $45 par common stock at $54, and on February 27, it issued for cash 16,510 shares of preferred stock, $10 par at $12. Required: a. Journalize the entries for January 22 and February 27. Refer to the Chart of Accounts for exact wording of account titles. b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? Chart of Accounts CHART OF ACCOUNTS Jefferson County Rocke Inc General Ledger ASSETS REVENUE 410 Sales 610 Interest Reveru 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation Equipment EXPENSES 510 Cost of Goods Sold 515 Credit Card Experise 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Experies 534 Rent Expense 535 Insurance Expanse 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Experise 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 238 Stock Dividends Distributable 241 Salaries Payable 281 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid In Capital in Excess of Par Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid In Capital in Excess of Par-Preferred Stock 331 Paid In Capital from Sale of Treasury Slock 340 Retained Earrings 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journal a. Journalize the entries for January 22 and February 27. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 ON 6 Final Question b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27? $