Question
On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 74,600 shares of $40 par common stock at $56, and on August
On April 20, Gallatin County Rocks Inc., a marble contractor, issued for cash 74,600 shares of $40 par common stock at $56, and on August 7, it issued for cash 15,640 shares of preferred stock, $10 par at $12. Required: A. Journalize the entries for April 20 and August 7. 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 August 7?
A. Journalize the entries for April 20 and August 7. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
Score: 21/75
| DATE | DESCRIPTION | POST. REF. | DEBIT | CREDIT | |
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What is the total amount invested (total paid-in capital) by all stockholders as of August 7?
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Financial Accounting The Cornerstone Of Business Decision Making
Authors: Jay S Rich, Jeff Jones, Linda Ann Myers
5th Edition
0357132696, 978-0357132692
