Question 6

Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 55,000 shares of $18 par common stock at $61, and on February 27, it issued for cash 140,000 shares of preferred stock, $4 par at $7. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feb. 27 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Feedback b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27