Entries for Issuing Par StockOn January 22, Jefferson County Rocks Inc., a marblecontractor, issued for cash 210,000 shares of $30 parcommon stock at $34, and on February 27, it issued forcash 15,000 shares of preferred stock, $9 par at $12.a. Journalize the entries for January 22 and February27. If an amount box does not require an entry, leave itblank.Jan. 22Feb. 27b. What is the total amount invested (total paid-incapital) by all stockholders as of February 27?→

The shareholders equity comprises of issued capital, retained earnings, etc. The total paid in…

Answered: Entries for Issuing Par Stock On…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculating the Number of Shares Issued Chester Inc. issued shares of its $3.85 par value common stock for $16.50 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital-Common Stock account for $1,062,600. Required: How many shares were issued? shares
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? CHART OF ACCOUNTSLegacy Rocks Inc.General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In…
On May 23, Stoltz Realty Inc. issued for cash 111,000 shares of no-par common stock (with a stated value of $5) at $8. On July 6, Stoltz Realty Inc. issued at par value 35,000 shares of preferred 1% stock, $10 par for cash. On September 15, Stoltz Realty Inc. issued for cash 20,000 shares of preferred 1% stock, $10 par at $11. Journalize the entries to record the May 23, July 6, and September 15 transactions. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 313 Paid-In Capital in…
On April 2, 9000 shares of $6 Par common stock were issued at $22 and on april 7, 4000 shares of $60 par preferred stock were issued at $104. Journalize the entries for april 2 and 7.
On April 1, 9,000 shares of $8 par common stock were issued at $26, and on April 7, 2,000 shares of $80 par preferred stock were issued at $108. Journalize the entries for April 1 and 7. If an amount box does not require an entry, leave it blank. Apr. 1 Apr. 7

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Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34, and on February 27, it issued fo cash 15,000 shares of preferred stock, $9 par at $12.