Question
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 73,600 shares of $10 parcommon stockat $15, and on November 19, it issued
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 73,600 shares of $10 parcommon stockat $15, and on November 19, it issued for cash 15,320 shares ofpreferred stock, $45 par at $55.
Required:
A.Journalize the entries for October 31 and November 19. 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 November 19?
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
