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On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 74,600 shares of $10 par common stock at $12, and on November 19,
On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 74,600 shares of $10 par common stock at $12, and on November 19, it issued for cash 15,640 shares of preferred stock, $40 par at $56.
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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