Question
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 70,300 shares of $45 par common stock at$56, and on February 27,
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 70,300 shares of $45 par common stock at$56, and on February 27, it issued for cash 18,450 shares of preferred stock, $10 par at $15.
a. Journalize the entries for January 22 and February 27. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
ACCOUNTING EQUATION
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b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
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Financial And Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
14th Edition
1337119202, 978-1337119207
