Entries for issuing par stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 20,000 shares of $24 par common stock at $82, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Feb. 27 b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section18.3: Capital Stock
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Entries for issuing par stock
On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 20,000 shares of $24 par common stock at $82, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8.
a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank.
Jan. 22
Feb. 27
b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
Transcribed Image Text:Entries for issuing par stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 20,000 shares of $24 par common stock at $82, and on February 27, it issued for cash 130,000 shares of preferred stock, $5 par at $8. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22 Feb. 27 b. What is the total amount invested (total paid-in capital) by all stockholders as of February 27?
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